Sensex Today | Market Highlights: European shares climbed on Monday, buoyed by the momentum on Wall Street that propelled the S&P 500 to close above 5,000 for the first time, while.

investors assessed earnings and economic data for insights into the European Central Bank's rate outlook.

The pan-European STOXX 600 rose 0.3% and hovered around its two-year highs, with all the sectors trading in the green.

Italian stocks outperformed regional peers with a 0.6% increase, hitting their highest level since June, 2008.

This week is packed with economic data, including euro zone's fourth-quarter GDP growth, consumer price inflation from Spain and other regions, and ZEW survey to gauge industry expectations on the state of the region's economy.

Across the Atlantic, investors will closely monitor the U.S. January CPI print on Tuesday for clues on the potential timing of a rate cut by the Federal Reserve.

As the S&P 500 has soared to fresh highs, fewer stocks have been participating in the rally, stirring worries that recent gains could reverse if the market’s leaders stumble.

Strong market breadth, or the number of stocks taking part in a broader index’s rise - is often viewed as a healthy sign by investors as it shows gains are less dependent on a small cluster of names.

Trading in Asia hours is expected to be thin as most of the region including China, Hong Kong, Japan, South Korea, Singapore, Taiwan, Vietnam and Malaysia are closed for holidays.

Mainland China's financial markets are closed for the Lunar New Year holiday and will resume trade on Monday, Feb 19. Hong Kong trade will resume on Feb. 14.

Oil prices fell in early Asian trade on Monday after Israel said it had "concluded" a series of strikes in southern Gaza, slightly easing concerns about supply from the Middle East.

While supply concerns in the Middle East remained relatively heightened, news from the U.S. eased some worries.

U.S. energy firms increased oil and natural gas rigs to their highest since mid-December, potentially signaling an increase in output. Domestic production returned last week to a record 13.3 million barrels per day (bpd).

Sensex Today Highlights : Sensex, Nifty close in the red, dragged down by a slip in banking, realty and media stocks

Indian benchmark indices gave up early morning gains to close in the red, amid wide selloff across sectors.

While IT, Pharma, and Healthcare indices were able to hold their gains, rest of the indices closed deep in the red. Media, PSB, Realty, and Oil & Gas were the biggest losers, down 4.46%, 4.43%, 2.97% and 2.62%, respectively.

In the broader market, the Smallcap Index closed down over 3%.