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Automaker Mahindra and Mahindra led a 1 per cent jump in shares on Monday after reporting positive quarterly results, while the market also benefited from an improvement in the global mood on news that Shanghai would ease Covid-19 curbs.
The NSE Nifty 50 index was up 1.15 per cent at 16,541.10, while the S&P BSE Sensex rose 1.23 per cent to 55,550.61 in the early trade. Both the indexes added more than 1 per cent on Friday.
Leading the gains on the Nifty 50, Mahindra and Mahindra rose 2.5 per cent after it reported a 47.8 per cent jump in consolidated net profit.
Nifty's IT sub-index built on the previous session's rally with a 2.6 per cent jump on Monday.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.2 per cent as investors pinned hopes on an eventual slowdown in U.S. monetary tightening, while authorities in Shanghai said they will cancel many conditions for businesses to resume work from Wednesday, easing a city-wide lockdown that began some two months ago.
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