Erasing most of its early gains, the Sensex at the Bombay Stock Exchange closed a modest 45 points, or 0.3 per cent higher, at 16,237, on fag-end profit booking, on Monday. The Nifty at the National Stock Exchange rose 12 points, or 0.2 percent, to 4,856.Stock markets in Japan, Hong Kong, and South Korea gained between 2.1 percent and 2.7 percent