Equity bench mark indices Sensex and Nifty opened higher on Monday after logging their longest weekly losing streak in 25 years. The indices were aided by easing concerns over aggressive US monetary tightening and a pullback in oil prices.

The National Stock Exchange of India Ltd. (NSE) logo on display during the company's listing ceremony at the Bombay Stock Exchange (BSE) in Mumbai on Sept 24 (Bloomberg)

At 9:15 am, the opening minute, Sensex was over 400 points up on Monday.

GIFT Nifty futures were trading at 22,639 points as of 7:57 am, signalling a positive start for the benchmark Nifty 50 index, which closed at 22,421.95 on Thursday, according to figures cited in a Reuters report. Markets were closed on Friday for a public holiday.

Both the Nifty 50 and the Sensex posted their eighth straight weekly decline last week, weighed down by record foreign selling, elevated crude oil prices and a sharp rise in global bond yields that dampened risk appetite.

Sentiment improved after softer-than-expected US jobs data reduced expectations of a Federal Reserve rate hike later this month, providing relief to emerging-market assets.

Oil prices were also expected to lend support. Brent crude slipped 0.6% to $101.6 a barrel on Monday as higher Middle East exports and coordinated stock releases by Group of Seven nations eased near-term supply concerns.

Other Asian stock markets rose 0.2%.

Foreign portfolio investors (FPIs) remained net sellers for a sixth straight session on Thursday, offloading stocks worth 94.84 billion rupees, according to provisional NSE data. Domestic institutional investors (DIIs), meanwhile, purchased equities worth 100.42 billion rupees.

Weaker US economic data has pushed the probability of an October Fed rate hike below 25%, supporting sentiment across emerging markets, two traders said. They added that a sustained recovery in Indian equities would require a further easing in oil prices and a slowdown in foreign outflows.

Among individual stocks, HDFC Bank will be in focus after the country's largest private lender named Anup Bagchi as its next CEO for a three-year term.

Bagchi, currently MD and CEO of ICICI Prudential Life Insurance, will become the first external candidate to lead HDFC Bank.