India's currency, debt and equity markets - Bombay Stock Exchange and National Stock Exchanges - remain closed today on account of Guru Nanak Jayanti. Trading will resume on Tuesday.
The Sensex gained 0.61 percent and the Nifty added 0.91 percent last week, helped by positive global cues and optimism about the economic recovery.
Official data showed the Indian economy slipped into a technical recessionary phase for the first time ever in Q2, as widely expected.
GDP shrank by 7.5 percent for the second quarter of the current financial year, after having contracted by an unprecedented 23.9 percent in the first quarter.
Economists had forecast an 8.8 percent contraction. Given the rebound in economic activity, forecasters are revising upwards their projection for the current fiscal's GDP growth.
The RBI policy meet will be in focus this week, with the central bank widely expected to keep policy rates unchanged when it meets on 2-4 December to review monetary policy.
Economists expect the RBI to revise up both its growth and inflation projections, but retain the dovish forward guidance.
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