The benchmark index of the Bombay Stock Exchange (BSE), Sensex rose 1.4 per cent early on Monday following gains made by other Asian stocks. Infosys Ltd, ICICI Bank and Reliance Industries led the gain in the domestic market, which some positive reassurances from peers in Asia and positive outlook in the European market. Hindalco Industries, Jindal Steel & Power and Sterlite Industries rose by 3.27% to 5.33%.

The domes shares have fallen more than 15% from the recent highs market and are expected to consolidate gains in the coming days. BSE Sensex was currently above the psychological 16,000 mark after moving around the mark in the intraday trade. The broader 50-share NSE index was up 1.3 per cent to 4,775.90.

Positive performance by some Asian and domestic shares helped reduce pressure on Rupee, which has become the worst performing currency in Asia in recent months.

Meanwhile, the Indian rupee was at 51.98/99 per dollar compared to Friday's close of 52.23/24. The rupee rose on indications that the Indian government will take more steps to support the rupee and push more Euro.