The domestic indices closed on a high on Monday as investors await Reserve Bank of India policy meeting later this week. The BSE Sensex surged 157.55 points to close at 37,494.40 while the NSE Nifty50 jumped 34.40 to settle at 11,312.75.

During intra-day trade, the Sensex rose 196.65 points to a new high of 37,533.50. The Nifty50 too had gained 49.75 points to reach an all-time high of 11,328.10.

Reliance Industries, ICICI Bank, State Bank of India and Axis Bank were the top gainers in both the indices. The stocks that dropped the most on Sensex were Infosys, HDFC Bank, Larsen & Tourbo, HDFC Bank, Adani Ports and Wipro. On Nifty, the main losers were Infosys, HCL Tech, Hindalco, HDFC Bank and Eicher Motors.

Asian stocks closed lower on Monday as several central banks are scheduled to hold their policy meetings later this week. The Nikkei 225 declined 167.91 points to close at 22,544.84.

The Indian rupee weakened marginally against dollar. The home currency opened 15 paise weaker at 68.80. On Friday, it had closed almost flat at 68.65.