Mumbai: India’s benchmark equity indices pared gains made earlier in the day ended marginally higher. The S&P BSE Sensex gained 0.23%, or 87.39 points, to close at 38,214.47 points, while the Nifty 50 advanced 0.32%, or 36.10 points, to close at 11341.15 points. Earlier in the day the indices had gained as much as 0.5%.

A positive trend in Asian peers buoyed sentiment. Japan's Nikkei225 gained 1.15%, China's Shanghai Composite Index gained 1.15%, and Taiwan’s Taiex rose 1.63%.

Back home, BSE Mid-Cap index rose 0.88%, while the Small-Cap index ticked 0.45% higher. The market breadth was positive. On the BSE, 1268 shares rose and 1127 fell. A total of 213 shares were unchanged. On the Nifty 50, 45 stocks advanced and 5 stocks declined.

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) made a stellar debut on the stock exchanges on Monday, listing at 644 apiece - a massive premium to its issue of 320 per share. The 645 crore initial public offering (IPO) was subscribed 112 times at a price band of Rs315- Rs320 per share. The issue was open for subscription between 30 September and 4 October. The stock closed at 728.60 on BSE, up 127.69% from its issue price.

Reliance Capital Ltd tumbled 10% to close at 15.75.The stock was the biggest loser in the BSE's 'A' group. On the BSE, 8.47 lakh shares were traded on the counter so far as against the average daily volumes of 20.64 lakh shares in the past one month.

DLF surged 6.36% to close at 154.80 after media reports said the real estate developer clocked bookings of 376 residential apartments for 700 crore in its project in New Gurugram. As per reports, the bookings were registered on the first day earlier this week, in the second phase of its premium Ultima project, which has a total of 504 apartments.

Den Networks rose 4.12% to close at 51.75. On a consolidated basis, Den Networks reported a net profit of 14.72 crore in July-September compared with a net loss of 28 crore in the year-ago period. Net sales rose 7.1% year-on-year to 332.42 crore in the September quarter.

Aurobindo Pharma gained 4.87% to close at 459.45 after HDFC mutual fund raised its stake in the pharmaceutical company by 2% to 7.12% on 9 October. The company made the disclosure after trading hours on Friday.

Indiabulls Housing Finance fell 5.74% to close at 197.90 after the Moody's Investors Service downgraded the corporate family rating (CFR) and the foreign-currency senior secured rating of the company to B2 from Ba2.

Bank of Baroda fell 2.75% to 88.4 on reports P.S. Jayakumar ended his term as the bank's managing director and chief executive on Saturday. According to reports, a replacement for the position will be announced in a day or two. Jayakumar received a one-year extension after his initial three-year term ended on 12 October 2018.