The Indian equity benchmark indices opened higher on Monday led by gains in banking and financial stocks amid positive global cues.

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At 9:15 am, the Sensex opened 0.53 percent, or 258.15 points higher at 48,990.70, while the Nifty50 index opened at 14,756.25, up 78.45 points, or 0.53 percent.

Broader markets supported gains as the Nifty Smallcap100 and Nifty Midcap100 indices traded higher.

Among sectoral indices, the Nifty PSU Bank, Nifty Financial Services, Nifty FMCG and Nifty IT gained, while selling was seen in metals and pharma indices in the early morning session.

ITC, UPL, Larsen & Toubro, ONGC and SBI were the Nifty50 top gainers, while Tata Steel, JSW Steel, Cipla, Hindalco Industries and Sun Pharmaceutical Industries were the top losers.

Shares of Larsen & Toubro gained over 1 percent after the company’s Q4FY21 consolidated profit rose 11.4 percent to Rs 3,820.2 crore from Rs 3,430 crore and revenue rose 8.7 percent to Rs 48,087.9 crore from Rs 44,245.3 crore, YoY.

Meanwhile, in Asia, share markets turned mixed on Monday as data on Chinese retail sales missed expectations though industrial output stayed solid, while more evidence of global inflation pressures helped gold to a three-month peak, a Reuters report said.

MSCI’ broadest index of Asia-Pacific shares outside Japan eked out a rise of 0.2 percent, nudging further away from a four-month trough hit last week. Chinese blue chips proved resilient with a gain of 1.8 percent. Japan’s Nikkei lost 0.7 percent having also touched its lowest since early January last week.

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