Hero Motocorp, Bharti Airtel, Dr Reddy's Labs, Infosys, HUL, Cipla, TCS and Reliance Industries gained 1-2 percent.

Indian Energy Exchange will make its debut on exchanges today. The issue price is fixed at Rs 1,650 per share, the higher end of price band.

The reserved category of qualified institutional buyers was oversubscribed 2.56 times, non-institutional investors 85 percent and retail investors 2.61 times.

Asian stocks were mostly higher as the dollar spiked to more than three-month highs against the yen following a snap election in Japan on Sunday.

Christopher Wood of CLSA said Greed & Fear remains a long-term bull on India, as reflected in the nearly three times overweight in the relative-return portfolio and the 54 percent weighting in the Asia ex-Japan long only portfolio.

But Greed & Fear has to admit that there is the potential for some short-term vulnerability, and at least relative underperformance, he added.

Equity benchmarks started off the week on a positive note Monday, with the Nifty reclaiming 10,150 level on short covering after over a percent loss seen in previous week. The market opened after a long weekend.

The 30-share BSE Sensex was up 80.01 points at 32,469.97 and the 50-share NSE Nifty gained 30.30 points at 10,176.80.

Bajaj Auto, Axis Bank, HDFC, Indiabulls Real, UPL and HPCL were under pressure in early trade.

Nifty Midcap was up 0.2 percent on positive market breadth.

Bhushan Steel, Uttam Galva, Monnet Ispat, Visa Steel, 63 Moons, Dwarikesh Sugar, Puravankara Projects, Radico Khaitan and Gati rallied 2-10 percent.

Sintex Industries, Canara Bank, Andhra Bank and Titan Company were down 1 percent.

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