New Delhi: Markets started the week on positive note on Monday led by rally in Banking stocks.

The BSE Sensex rose 517.22 points or 1.51 percent to 34,804.46 in early trade, while the NSE Nifty jumped 154.95 points or 1.53 percent to 10,297.10.

Major gainers in the Sensex pack were IndusInd Bank, Bajaj Finance, Axis Bank, SBI, Titan, LT, ICICI Bank, ONGC, HDFC Bank, Tata Steel, RIL and Kotak Bank, rising upto 7.41 percent. Bucking the trends, Sun Pharma, HCL Tech, Barti Airtel and Nestle logged losses, falling upto 1.02 percent.

In the previous session on Friday, BSE Sensex rose 306.54 points or 0.90 percent to close at 34,287.24 while the NSE Nifty jumped 113.05 points or 1.13 percent to 10,142.15.

MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.3% in early trade, with South Korea`s Kospi rising 1.4%. The Australian share market was closed for a holiday, a Reuters report said. US S&P500 futures rose 0.5% to stand near their highest levels since late February while Japan`s Nikkei opened more than 1% higher.