MUMBAI: Positive global cues, coupled with a strong rupee and higher crude oil prices, lifted the Indian equities markets during the mid-afternoon trade session on Monday.
The key indices traded with gains of around half-a-per cent each, even as some gains were capped due to profit booking.
Healthy buying was witnessed in banking, capital goods and healthcare stocks.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up 41.40 points or 0.47 per cent to 8,782.35 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,340.39 points, traded at 28,431.35 points (at 1.45 p.m.) -- up 190.83 points or 0.68 per cent, from the previous close at 28,240.52 points.
The Sensex has so far touched a high of 28,487.28 points and a low of 28,340.39 points during intra-day trade.
The BSE market breadth was tilted in favour of the bulls -- with 1,797 advances and 987 declines.
"The Sensex and the Nifty traded in the positive zone, supported by positive global indices and a strong rupee, as well as higher crude oil prices," Astha Jain, Senior Research Analyst at Hem Securities, told IANS.
"In addition, there is a positive sentiment in the markets as market participants are expecting the Reserve Bank of India (RBI) to maintain status quo in its upcoming monetary policy review on Tuesday."
According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the CNX Nifty traded with firm sentiments near intra-day high tracking positive global cues and bearish USD/INR futures prices.
"IT and media-entertainment stocks witnessed good recovery from lower levels due to buying support," Desai added.
"Banking, pharma, auto, oil-gas, textile and FMCG stocks traded with firm sentiments, while cement and power sector stocks also witnessed strong buying sentiments."
On Friday, the benchmark indices closed on a flat note as profit booking at higher levels subdued investors' sentiments.
The NSE Nifty inched up 6.70 points or 0.08 per cent to close at 8,740.95 points, while the BSE Sensex was up 13.91 points or 0.05 per cent at 28,240.52 points.
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