The equity benchmarks opened higher on Monday, mirroring strong global trends and new foreign money inflows.

The Sensex rose 274.02 points to 57,844.27, while the Nifty gained 86.55 points to 17,244.80 in early trade.

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Mahindra & Mahindra, Maruti Suzuki India, Reliance Industries, Power Grid, UltraTech Cement, Dr Reddy’s, Wipro, and Bharti Airtel were among the top gainers on the Sensex.

Among the laggards were Sun Pharma, IndusInd Bank, Hindustan Unilever, and Bajaj Finserv.

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Markets in Seoul, Shanghai, and Tokyo were trading higher in Asia, while Hong Kong was trading down. On Friday, the US markets finished higher.

“The market will keep an eye on the July auto sales numbers to trickle in later today, as this would be a likely indication of the health of the macroeconomy,” Prashanth Tapse, Research Analyst, Senior VP (Research), Mehta Equities Ltd, said.

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On Friday, the Sensex rose 712.46 points, or 1.25%, to 57,570.25. The Nifty was up 228.65 points, or 1.35%, at 17,158.25.

According to exchange statistics, foreign institutional investors continued to be net purchasers in the capital markets on Friday, purchasing shares worth Rs 1,046.32 crore.

“The big positive for the Indian market is the FPIs turning buyers in July after nine months of relentless selling,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

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In July, foreign investors were net buyers, investing about Rs 5,000 crore in Indian equities.

Meanwhile, Brent crude, the international oil benchmark, fell 1.07% to USD 102.86 a barrel. The rupee rose 13 paise to 79.11 against the US dollar in early trade on Monday.