The Indian market opened on a strong note on Monday led by across-the-board gains as investors cheered the developments over coronavirus vaccines.

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At 9:15 am, the Sensex opened 0.50 percent, or 240.19 points, higher at 48,109.17, while the Nifty50 index opened at 14,104.35, up 85.85 points, or 0.61 percent.

Broader markets, Nifty Smallcap100 and Nifty Midcap100 supported the rally.

All the sectoral indices traded in the green led by Nifty PSU Bank, Nifty Metal, Nifty Auto and Nifty IT.

Investor sentiment improved after the Drug Controller General of India (DCGI) V.G. Somani on Sunday approved Serum Institute of India's 'Covishield' vaccine and Bharat Biotech's 'Covaxin' for emergency use, paving the way for their roll-out and administration to millions.

Tata Motors, GAIL India, Tata Steel, Eicher Motors and ONGC were the Nifty50 top gainers, while Reliance Industries, Hero MotoCorp and Asian Paints were the only ones to trade in the red.

Tata Motors gained over 3 percent after the company’s total sales in Q3FY21 rose 22 percent to 158,215 vehicles from 129,381 units in Q3FY20.

Meanwhile, in Asia, share markets resumed their ascent on Monday as investors pinned their hope on vaccines to eventually deliver a global economic upturn, even as a possible tightening in virus rules for Tokyo pulled Japanese stocks off 30-year highs.

After a slow start, MSCI's broadest index of Asia-Pacific shares outside Japan swung 0.8 percent higher to hit another all-time peak.

South Korea climbed 2 percent to a record, led by the chip and auto sectors, while Chinese blue chips added 0.3 percent.

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