The BSE benchmark, the Sensex ended 22.81 points or 0.10% higher at 21,832.61 points, while the NSE's Nifty ended 12.45 points or 0.19% higher at 6,516.65 points. The FOMC meet begins on Tuesday.
According to experts, the likelihood of a BJP-led alliance coming to power at the Centre and a stable rupee has kept Indian markets strong. Even as global stocks have been under pressure, rupees behaviour due to the steps taken by the RBI coupled with expectations of a BJP-led government has kept markets resilient, said Vinay Khattar, head (research), retail capital markets, Edelweiss.
Among sectoral indices, the BSE Oil & Gas (0.87%), BSE Power (1.27%) and BSE FMCG (1.87%) were the major gainers. Among individual stocks, Maruti Suzuki (7.58%), State Bank of India (2.72%) and ITC (2.56%) were the major gainers on the 30-share Sensex.
Among Asian indices, the Nikkei (0.94%), Hang Seng (0.51%), Kospi (0.66%) and Taiwan Taiex (0.37%) ended in the green.