Mumbai, Oct 10 (IANS): Reduced chances of a US rate hike, coupled with broadly positive Asian indices and a strengthened rupee buoyed the Indian equity markets during the early morning trade session on Monday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained 31.65 points or 0.36 per cent to 8,729.25 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,144.28 points, traded at 28,153.79 points (at 9.40 a.m.) -- up 92.65 points or 0.33 per cent from the previous close at 28,061.14 points.

The Sensex has so far touched a high of 28,216.64 points and a low of 28,126.94 points during the intra-day trade.

The BSE market breadth was firmly in favour of the bulls -- with 1,345 advances and 449 declines.

On last Friday, both the key Indian indices were pulled lower by negative global indices, caution ahead of earnings announcements and profit booking.

The barometer index had closed lower by 45.07 points or 0.16 per cent to 28,061.14 points, while the NSE Nifty surged 11.95 points or 0.14 per cent to 8,697.60 points.