Equities on Monday began the week on a strong note, opening at record highs, while the Nifty began above 10,700 for the first time.
The Sensex is up 176.23 points or 0.51% at 34768.62, while the Nifty is up 46.30 points or 0.43% at 10727.60. The market breadth is positive as 840 shares advanced, against a decline of 160 shares, while 243 shares are unchanged.
HDFC, ICICI Bank and Tata Motors gained the most on both indices, while Infosys, M&M and Bharti Infratel were the top losers.
Capital First was up over 5 percent as investors cheered the merger announcement with IDFC Bank. The latter was trading around 3 percent lower.
The Indian rupee gained in the early trade on Monday. It has opened higher by 12 paise at 63.49 per dollar versus 63.61 Friday.
Pramit Brahmbhatt of Veracity said, "Rupee will remain under pressure. A technical pullback started from 63.30, may get extended till 63.80."
"Trading range for the spot USD-INR pair will be 63.50-63.80," he added.
Major indexes in Asia notched gains on Monday after Wall Street closed out last week at records and the dollar remained on the back foot.
The Nikkei 225 rose 0.54 percent as technology and financial names rose early in the session. Automakers proved to be a mixed picture.
Shares of SoftBank Group jumped 4.26 percent following news from Nikkei Asian Review that the company aimed to list SoftBank Corp., its mobile arm, both in Tokyo and abroad this year. The listing could raise around 2 trillion yen ($18 billion) for the company, Nikkei added.
Missed call
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