Sensex, Nifty end at fresh record closing high

The market on Monday witnessed a rally in the Midcap and Smallcap indices by more than one percent, though equity benchmarks ended at fresh record closing high.

The Sensex rose 108.94 points to 33,266.16 and the Nifty gained 40.70 points at 10,363.70.

With a strong breadth, Lupin rallied nine percent intraday but came off day's high to close with 2.5 percent gains as the company expects US pricing pressure to continue, though maintained full year guidance.

On the other hand, HDFC was up 0.4 percent post stable earnings and asset quality while Tata Steel was down 1.2 percent ahead of earnings later today.

In the banking sector, ICICI Bank ended 0.2 percent lower as investors digested better asset quality performance of the bank.

While in banking, Yes Bank rebounded 2.5 percent, after 7 percent fall seen in previous session due to bad asset quality performance in Q2.

Among others, Reliance Industries, HDFC Bank and Tata Motors leading contributors, up around 1.5 percent whereas ITC, HUL and HCL Technologies were down 1.5-2 percent.