Indian equity markets have opened higher, led by positive global signals, with indices logging news highs. The BSE Sensex traded higher by 307 points at 46571 while the NSE Nifty up by 87 points at 13655 at 9:30 am.

Among sectoral indices, the metal index is pointing gains, opening 1.1 percent higher as is the Nifty Auto index, which has opened with gains of 1 percent. The Nifty Bank is up 0.75 percent while the FMCG and Pharma indices have opened with gains of 0.5 percent each.

Broader markets also have opened higher in today's session. The Nifty midcap index is up 0.6 percent while the Smallcap index is up 0.7 percent at the start of trade. Among major  gainers in early trade are Mahindra and Mahindra, Bajaj Finance, Oil and Natural Gas Copro, Hindalco and Tata Motors, while losers include ICICI Bank and Dr. Reddy's Labs.

Shares of Mahindra and Mahindra were in trade after the company announced an increase in prices from next month of all its vehicle range in order to make up for the rise in input cost.   On the NSE, 1,280 stocks have opened with gains while 286 stocks are declining.

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