Indian markets started FY19 on a robust note with the S&P BSE Sensex rallying by nearly 300 points and Nifty50 reclaimed 10200 towards the close of the trade.

Robust auto sales data kept the momentum going for Indian equity markets despite fears of trade war loom large on markets across the globe. However, trading activity remains thin across the globe as many markets remain shut.

Markets in Australia, Hong Kong, Britain, and Germany remained shut on Monday while the U.S. market will resume trading.

China has increased tariffs by up to 25 percent on 128 U.S. products including frozen pork, wine and certain fruits and nuts, escalating a spat between the world’s biggest economies in response to U.S. duties on imports of aluminium and steel.

The S&P BSE Sensex reclaimed Mount 33K and closed 286 points higher or 0.87 percent at 33,255\. It hit an intraday low of 32,997.88 and a high of 33289.34 in trade today.

The Nifty50 reclaimed its crucial resistance level of 10,200 and its 200-days moving average placed at 10,182\. The index closed 98 points higher or 0.97 percent at 10,211.80\.

Top Nifty gainers include names like Cipla (up 5.6%), Lupin (5.61%), Kotak Mahindra Bank (up 4.6%), Adani Ports (up 4.4%), Tata Motors (up 3.7%) etc. among others.

Top Nifty losers include stocks like ICICI Bank (down 5.9%), IOC (down 3.4%), Axis Bank (down 2.2%), Coal India Ltd (down 2%), Hindalco Industries (down 1.5%) etc. among others.

Sectorally, pharma, auto, capital goods stock huge buying interest while banks, PSU, and oil & gas stocks declined.