New Delhi, March 26: Market indices closed sharply higher on Monday, with the Sensex up 469.87 points at 33,066.41 and the Nifty gaining 132.65 points at 10,130.70. HDFC Bank, SBI, ICICI Bank, L&T, Yes Bank, Reliance Industries, Bajaj Finance, Hindalco, UltraTech Cement and Maruti Suzuki were up about six percent. Meanwhile, Infosys and Wipro declined up to 3.5 percent.

However, the possibility of a full-blown trade war between the United States and China battered Asian shares on Monday. Shanghai fell 1.8 percent while, the Nikkei 225 fell 1.02 percent in early morning trade. Topix index was down 0.83 percent. Meanwhile, the Kospi fell 0.41 percent. On Thursday, United States President Donald Trump imposed massive trade tariffs amounting to USD 60 billion on China.

Terming Beijing as its efforts to steal 'intellectual property' from American companies, President Trump signed a memorandum directing the Office of the US Trade Representative (USTR) and the US Treasury Department to launch a 'broad range of actions' against China. The Sensex triggered a low of 409.73 points at 32,596.54, and the Nifty fell 116.75 points to 9,998.05, on Friday.