New Delhi, May 5 -- Indian stock indices extended their gains from the previous week, starting the fresh week on a positive note.

Sensex closed at 80,796.84 points, up 294.85 points or 0.37 per cent, Nifty closed at 24,461.15 points, up 114.45 points or 0.47 per cent. Most of the sectoral indices were in the green, with Nifty auto and oil and gas rising the most on Monday.

As the week progresses, Indian stock markets will closely monitor the movement of foreign portfolio investments (FPI), which have recently turned net buyers, along with developments on the India-US bilateral trade deal front, and the Q4 earnings of key listed companies for fresh cues.

Globally, the outcome of the US Central Bank monetary policy meeting would also be ...