The BSE Sensex closed the day higher at 17,150 points, up 56 points, while the NSE Nifty closed the day at 5226 points, up 18.75 points over its previous close.

Infosys continued to drift lower, as brokerages and investment firms evaluated the company's prospects going forward in the light of the guidance provided by the company.

Among today's gainers were Tata Motors, Jaiprakash Associates, Axis Bank and Punjab National Bank. Among the major losers today were Ambuja Cements, Bharti Airtel and ACC.

Markets are now eyeing the RBI's Monetary Policy Review slated for Tuesday. It's widely expected that the RBI would cut repo rates, after a span of three years, as economic growth rates and industrial production continue to dip.

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