The Bombay Stock Exchange Sensex closed 118.44 points higher at 26,349.10 and the National Stock Exchange Nifty rose 41.95 points to close at 8,128.75 as markets rebounded from a weak opening and ahead of the Reserve Bank of India policy meeting on Tuesday. This came even as Asian and European markets traded lower because of a variety of factors.

Auto stocks were the best performers of the day on both indices, with MRF and Ashok Leyland being the biggest gainers on the Sensex, Business Standard reported. Mahindra & Mahindra, Maruti, Tata Motors and Bajaj Auto also saw a rise in the value of their stock. Other gainers included Asian Paints, Bharti Airtel and Tata Steel.

Meanwhile, Housing Development Finance Corporation Limited ended 1.44% down, with Tata Consultancy Services, GAIL and Sun Pharmaceuticals closing lower as well. The Nifty Information Technology Index closed 0.89% lower. The rupee traded at 68.26 against the United States dollar.

The Euro on Monday hit a 20-month low following Italian Prime Minister Matteo Renzi’s announcement that he would step down from his post after he lost a referendum on constitutional reforms, Reuters reported.

The decline in the Euro’s value was an added blow to European markets grappling with the repercussions of Brexit. The currency opened at $1.06 and soon dropped by 1.4% to $1.05, a record low since March 2015. Observers are predicting a steeper financial fallout in Europe.

Hong Kong’s Hang Seng dropped by 0.34%, China’s Shanghai Composite declined by 1.2% and Japan’s Nikkei slipped by 0.8%, AP reported. The yuan weaked following US President-elect Donald Trump’s social media spat with Beijing, Mint reported. The New Zealand dollar too dropped, following Prime Minister John Key’s sudden resignation announcement on Monday.