9:30 am Market climbs: The Sensex is up 395.44 points or 1.5 percent at 27522.34 and the Nifty is up 113.70 points or 1.4 percent at 8436.90.About 1302 shares have advanced, 207 shares declined, and 48 shares are unchanged.
ICICI Bank, Bharti Airtel, L&T, NTPC and BHEL are top gainers.
The market has opened at new 2016 high while the midcap index is at 11-month high. The Sensex is up 368.52 points or 1.4 percent at 27495.42, and the Nifty is up 104.45 points or 1.2 percent at 8427.65.
About 932 shares have advanced, 111 shares declined, and 36 shares are unchanged. ICICI Bank, BHEL, Tata Motors, Bharti and L&T are top gainers.
The Indian rupee gained in the early trade. It has opened higher by 24 paise at 67.12 per dollar versus 67.36 Friday.
Pramit Brahmbhatt of Veracity said, "Rupee is expected to trade with a positive bias, taking cues from global equity market. The trading range for the spot USD-INR pair will be 67-67.50/dollar."
Asia enjoyed a relief rally as upbeat US jobs data lessened immediate concerns about health of the world's largest economy, though long-run fallout from Brexit kept sovereign yields near record lows. MSCI's broadest index of Asia-Pacific shares outside Japan, While Australia added 1.3 percent.
Japan's Nikkei climbed 2.9 percent in the wake of a clear win by the government in upper house elections. Prime Minister Shinzo Abe's ruling coalition won a landslide victory giving it the power to potentially revise the nation's post-war pacifist constitution for the first time.
One major event this week will be a Bank of England meeting on Thursday when it might well cut its 0.5 percent rate to offset the drag from the vote to leave the European Union.
Meanwhlie, among other asset classes sterling was stuck at USD 1.2948, having failed utterly to rebound from the 13 percent loss suffered in the immediate wake of Brexit.
The Japanese yen eased a little to 100.80 per dollar, while the euro stayed on the defensive at USD 1.1043having touched a low of USD 1.1003. In commodity markets, spot gold was a shade higher around USD 1,369.70 per ounce.
Crude prices edged down to near two-month lows on seasonally weak consumption, despite comments from Saudi Arabia's oil minister that the oil market was becoming more balanced.
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