Indian equity benchmark indices opened higher on Monday led by across-the-board gains amid positive momentum in Asian peers on strong global cues.
At 9:15 am, the Sensex opened 0.47 percent, or 248.14 points, higher at 52,634.33, while the Nifty50 index opened at 15,766.80, up 77.00 points, or 0.49 percent.
Broader markets supported the uptrend, with Nifty Smallcap100 and Nifty Midcap100 indices up 1.08 percent and 0.66 percent respectively.
All the sectoral indices are trading in the green with the Nifty Bank, Nifty Metal, Nifty Auto, and Nifty IT rallying the most in the early morning session.
ICICI Bank, Maruti Suzuki, SBI, IndusInd Bank, and Tata Motors were the top Nifty50 gainers, while Bajaj Finserv, HDFC Bank, and Hindustan Unilever were the only ones to trade in the red.
Shares of Equitas Small Finance Bank rallied over 14 percent, while that of Equitas Holdings jumped 20 percent after it got the Reserve Bank of India’s permission to apply for the scheme of amalgamation.
Globally, Asian shares were enjoying a relief rally on Monday as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth, though plenty of potential pitfalls lay ahead this week, said a Reuters report.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.9 percent, while Japan’s Nikkei bounced 2.3 percent.
Meanwhile, oil prices steadied after ending a volatile week with a bounce as US inventories tightened. Dealers are still uncertain about the outlook for supplies after OPEC talks on restrictions broke down.
Brent was last down 4 cents at $75.51 a barrel, while US crude stood unchanged at $74.56.
In the commodity market, gold prices edged lower but were still hovering above the key levels of $1,800 an ounce.