Mumbai, Nov 11 (TIWN) Indian financial markets closed with minor gains on Monday as investors traded cautiously ahead of the release of September industrial production and manufacturing output data.

Led by private banks and media stocks, Sensex closed 21.47 points higher at 40,345.08 while the broader Nifty finished 4.80 points up at 11,912.95.  "Market was range bound as investors stand side-lined from expensive large caps while mid and small caps saw some buying interest based on Q2 results & reasonable valuation," said Vinod Nair, Head of Research, Geojit Financial Services.