The S&P BSE Sensex index rose as much as 168 points to top 52,000 level in the first few minutes of trade, and the broader NSE Nifty50 benchmark climbed above the crucial 15,600 level.
A steady decline in daily Covid cases and easing of lockdown restrictions in some states also soothed investor sentiments.
Bajaj Auto was the top Nifty50 gainer in early deals, up 3 per cent. Tata Motors, ONGC,
and HDFC were among other blue-chip top performers.
On the other hand, Tata Steel was the top laggard, down 1.5 per cent. JSW Steel, UltraTech Cement, Asian Paints and Hindalco were among other losers.
Equities in other Asian markets were trading mixed in early trade. MSCI’s broadest index of Asia-Pacific shares outside Japan was up by 0.36 per cent. While Japan’s Nikkei declined 0.38%, Hang Seng gained 0.20%.
US stock exchanges remained closed on Monday on account of Memorial Day.
Meanwhile, in the oil market, crude prices rose ahead of the Opec meeting with Brent futures at $69.88 a barrel.
