The BSE Sensex opened at 31,168 up by 112 points, while the Nifty50 opened up by 38 points at 9,626 mark.
Bajaj Auto is the top Nifty gainer and Infosys is the top Nifty loser in the morning hours. Bajaj Auto is trading at Rs 2862.15 per share up by 1.86% whereas Infosys is trading at Rs 934.30 per share, down by 0.63%.
There are 973 advances, 392 declines and 446 unchanged stocks on NSE reflecting some positive bias floating in the market.
The rupee opened at 64.42 per US dollar higher by 1 paise on Monday. The rupee closed at 64.43 on Friday.
Nifty50 index has immediate support placed around the level of 9,550 and if it holds below this level, further corrections up to the level of 9,520 is likely. On the upside, Nifty50 may face resistance around the levels of 9,640-9,650 and if it holds above 9,640-9,650, it may extend its upmove up to the level of 9,700.
The US stocks closed mixed on Friday. The Dow closed at record levels while the Nasdaq closed lower. The Dow Jones Industrial Average finished up 24 points at a record 21,384. The Nasdaq Composite Index closed down 14 points at 6,152. The S&P 500 index finished at 2,433.
Asian stocks edged higher in early trade on Monday. Japan’s Nikkei 225 has gained 120 points; Hong Kong’s Hang Seng has surged 255 points, while China’s Shanghai Composite has gained 10 points.
