Sensex and Nifty, the key domestic equity benchmarks, on Monday erased their opening losses and edged higher in tracking mixed global cues.
At 9.45 am, the BSE Sensex was up 452 points to 60,297, while the broader NSE Nifty was trading at 17,933, up 126 points.
On the 30-share Sensex platform, barring Sun Pharma all were trading in the green with Tata Motors leading the pack, up 1.64 per cent.
The overall breadth of the 30-share Sensex during early trade stood positive as 29 scrips were advancing while one is declining.
Among individual stocks, shares of Siemens India gained over 2 per cent after the company plans to manufacture 1,200 electric freight locomotives for the railways at Rs 26,000 crore.
In the broader markets, Nifty MidCap 100 and Nifty SmallCap 100 indices advanced up to 1 per cent.
Barring Nifty Pharma index, which was fractionally lower in trade, all sectors swimmed in the sea of green. Nifty Metal, Nifty PSU Bank, and Nifty Realty indices gained the most, up to 1 per cent each.
In the previous session on Friday, the S&P BSE Sensex tanked 981 points (1.6 per cent) to end at 59,845, which is its lowest level since October 28. On the other hand, the Nifty50 closed at 17,807, down 321 points (1.8 per cent). The index sunk to a low of 17,779 during the day.
Elsewhere in Asia, equity markets in Seoul, Tokyo and Shanghai were trading in the green. The US markets had ended in the positive territory on Friday.
International oil benchmark Brent crude climbed 3.63 per cent to $83.92 per barrel.
Foreign institutional investors (FIIs) offloaded shares worth a net Rs 706.84 crore on Friday, according to exchange data.
Meanwhile, the rupee on Monday started the session on a flat note against the US dollar amid rising crude oil prices and persistent foreign capital outflows. At the interbank foreign exchange, the rupee opened at 82.79 against the dollar and lost ground to later trade at 82.83, registering a fall of 1 paisa over the last close. In the previous session on Friday, the rupee dipped 3 paise to close at 82.82 against the dollar.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.11 per cent lower at 104.31.