Key Benchmark indices closed higher in a highly volatile session on Monday with  Sensex higher  111.42 points at 50,651.90, and the Nifty settled 22.40 points at 15,197.70. Both the indices hit intra-day highs of 50,857 and 15,256, respectively. 

Indian Oil Corp, Bharat Petroleum, SBI, Larsen and Toubro and Axis Bank were among the top gainers on the Nifty, while losers were Shree Cements, JSW Steel, Tata Steel, Britannia Industries and Tata Consumer Products.

Banking stocks were among the top outperformers, with stocks like ICICI Bank & SBI witnessing an addition of fresh long positions.  Sectorally, the Nifty PSU Bank index ended the day as the top gainer on the NSE, up over 2 percent, followed by the Nifty Realty index (up 1.4 percent), and the Nifty Media index (up 1 percent). On the lower, the Nifty Metal index declined 0.6 percent on the NSE.

The indices, however, underperformed the broader markets where the MidCap and SmallCap indices scaled a new high in the intra-day deals and settled around 0.8 percent higher each. The BSE MidCap index touched a new record high level of 21,717 while the BSE SmallCap index hit 23,338. 

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