The Indian equity benchmark indices opened at fresh record highs on Monday with the Nifty hitting 17,400 for the first time as the market witnesses broad-based buying.

Share Market Live

NSE

At 9:15 am, the Sensex opened 0.48 percent, or 281.67 points higher at 58,411.62, and the Nifty50 index opened at 17,399.35, up 75.75 points, or 0.44 percent.

Broader markets supported the gains with the midcap and smallcap indices gaining over half a percent each.

Reliance Industries, Hindalco, Eicher Motors, M&M, and Bajaj Finserv pushed Nifty higher as each gained over 1 to 3 percent. Leading the losses were Tata Steel, Power Grid, Asian Paints, TCS, and IOC.

All the sectoral indices were in the green led by PSU banks, realty, metals and pharma sectors.

For more stock market updates, follow our live blog

Globally, Asian shares edged higher as a disappointing US payrolls report promised to keep policy there super-loose for longer, but also clouded the outlook for global growth and inflation.

A holiday in the United States made for thin conditions and kept MSCI's broadest index of Asia-Pacific shares outside Japan to a small gain of 0.2 percent, though that was the highest since late July.

Japan's Nikkei added 1.7 percent, extending a rally on hopes a new prime minister there would bring added fiscal stimulus.

Nasdaq futures were unchanged, but those on S&P 500 dipped 0.1 percent. European futures moved very little.

Oil investors were more concerned the poor pace of US hiring would be a drag on demand and prices slipped. Brent fell 82 cents to $71.79 a barrel, while US crude lost 73 cents to $68.56.

With inputs from Reuters