Mumbai, Aug 8 (IANS) Positive global cues, along with hopes of parliamentary approval for a major economic legislation and higher crude oil prices, buoyed the Indian equity markets on Monday.

Both the key indices closed the day's trade in the green, as healthy buying was witnessed in oil and gas, automobile and consumer durables stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 28.20 points or 0.32 per cent to its highest closing levels in over 15 months at 8,711.35 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,181.92 points, closed at 28,182.57 points -- up 104.22 points or 0.37 per cent from the previous close at 28,078.35 points.

The Sensex touched a high of 28,226.38 points and a low of 28,128.06 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls -- with 1,545 advances and 1,210 declines.

On Friday also, the benchmark indices had closed the day's trade in the green due to short covering, coupled with positive domestic and global cues.

The barometer index had surged by 363.98 points or 1.31 per cent, while the Nifty rose by 132.05 points or 1.54 per cent.

Initially on Monday, the benchmark indices opened on a higher note, in sync with Asian markets.

The domestic markets took positive cues from global indices which traded on a firm note, on the back of healthy US non-farm payroll figure which was released after the market hours on Friday.

The US Bureau of Labor Statistics last week reported that the total non-farm payroll employment increased by 255,000 in July.

Besides, the upward trend was also supported by increased chances of GST (Goods and Services Tax) constitutional amendment bill's passage in the Lok Sabha.

Further, government's plan to have a long term inflation target of four per cent for the next five years, prediction of healthy monsoon rains during August and higher global crude oil prices boosted investors' sentiments.

However, caution ahead of the Reserve Bank of India's (RBI) monetary policy review and the debate over the GST bill in the Lok Sabha capped gains.

In addition, depriciation in the rupee's value hampered the upward trajectory.

The rupee weakened by seven paise to 66.85 against a US dollar from its previous close of 66.78 to a greenback.

"Fresh buying on the back of positive Asian markets, healthy US's jobs data and higher crude oil prices buoyed the equity markets," Anand James, Chief Market Strategist at Geojit BNP Paribas Financial Services, told IANS.

"Gains were capped due to caution ahead of the Reserve Bank of India's monetary policy review."

Dhruv Desai, Director and Chief Operating Officer of Tradebulls cited that positive global cues and sideways movement in USD/INR futures prices supported the uptrend in Nifty during the intra-day session.

"Auto sector stocks traded firm, while banking stocks traded with mixed sentiments due to profit booking. Sugar stocks traded with bearish sentiments, while most oil sector stocks witnessed good buying support," Desai noted.

"Aviation stocks traded sideways to bearish tracking recovery in crude oil prices."

According to Nitasha Shankar, Senior Vice President for Research with YES Securities, broader markets continued to outperform the headline indices.

"Midcap and smallcap indices ended with handsome gains. Market breadth remained in favour of the bulls throughout the session,"

"Banking stock witnessed profit booking leading Bank Nifty in the negative territory."

In terms of investments, the provisional data with exchanges showed that the foreign institutional investors (FIIs) purchased stocks worth Rs 1,156.19 crore, whereas the domestic institutional investors (DIIs) divested scrip worth Rs 876.34 crore.

Sector-wise, healthy buying was witnessed in all the 19 sub-indices, except the telecom index, which dropped by 30.41 points.

The S&P BSE oil and gas index augmented by 164.74points, followed by the automobile index, which increased by 148.06 points, and the consumer durables index rose by 92.17 points.

Major Sensex gainers during Monday's trade were: Adani Ports, up 2.80 per cent at Rs 240.40; HDFC, up 1.70 per cent at Rs 1,363.30; Reliance Industries, up 1.49 per cent at Rs 1,029.65; Dr.Reddy's Lab, up 1.11 per cent at Rs 3,035.15; and Lupin, up 1.09 per cent at Rs 1,692.75.

Major Sensex losers were: Bharti Airtel, down 3.11 per cent at Rs 351.90; Sun Pharmaceuticals, down 1.12 per cent at Rs 832.90; NTPC, down 0.90 per cent at Rs 159.85; ITC, down 0.58 per cent at Rs 250; and Tata Motors, down 0.46 per cent at Rs 513.95.