Financial stocks propel Sensex to record close

Indian shares edged up on Monday to their highest close, driven by financials such as private sector lenders ICICI Bank Ltd and Axis Bank Ltd, while positive global cues also helped boost investor sentiment.

The benchmark BSE Sensex climbed 0.36 percent to a record close of 37,692.46, while the broader NSE Nifty rose 0.23 percent to a record close of 11,387.1.

ICICI Bank gained 3.3 percent, while Axis Bank rose 3.8 percent.

HDFC Asset Management Co Ltd's shares ended 65 percent higher in their first day of trade, following an initial public offering of 28 billion rupees ($408.10 million).