The key equity benchmarks traded with decent gains in early trade. The Nifty traded above the 15,850. Barring health care and FMCG stocks all the other sectoral indicies on the NSE traded in the green. 
At 09:22 IST, the barometer index, S&P BSE Sensex was up 227.04 points or 0.43% to 53,020. The Nifty 50 index rose 79.60 points or 0.50% to 15,861.75. 

The broader market outperformed the main indices. The S&P BSE Mid-Cap index gained 0.75% while the S&P BSE Small-Cap index added 0.91%. 

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,918 shares rose while 613 shares fell. A total of 96 shares were unchanged. 

Foreign portfolio investors (FPIs) sold shares worth Rs 3,780.08 crore, while domestic institutional investors (DIIs) and were net buyers to the tune of Rs 3,169.62 crore in the Indian equity market on 13 May 2022, provisional data showed. 

Ambuja cements rose 1.24% to Rs 363.25 while shares of ACC advanced 4.20% to Rs 2,202.45. Adani Group will acquire Holcim's full stakes in Ambuja Cement and ACC. The corresponding offer share prices of Rs 385 for Ambuja Cement and Rs 2,300 for ACC translate into cash proceeds of 6.4 billion Swiss Franc (CHF) for Holcim. Holcim holds 63.11% stake in Ambuja Cement, which owns a 50.05% interest in ACC, as well as its 4.48% direct stake in ACC. 

Avenue Supermarts (DMart) fell 1.45% to Rs 3,187.95. The company reported standalone net profit stood at Rs 466 crore for Q4FY22, as against Rs 435 crore in the corresponding quarter of last year. Total revenue for the quarter ended 31 March 2022 stood at Rs 8,606 crore, as against Rs 7,303 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY22 stood at Rs 742 crore, compared with Rs 617 crore in the corresponding quarter of last year. EBITDA margin stood at 8.6% in Q4FY22 as compared to 8.4% in Q4FY21. 

Alkem Laboratories rose 0.20% to Rs 2,908.75. MHRA had conducted an online inspection at the the drug maker's Bioequivalence Center located at Taloja, Maharashtra from 31st January 2022 to 4th February 2022 and 08th February 2022 to 10th February 2022. As per the Good Clinical Practice (GCP) Inspection Statement dated 12th May 2022, there were no critical or major observations identified and the said inspection stands closed. 

Maruti Suzuki India rose 1.57% after the car major finalised land site for new manufacturing plant in Haryana. The first plant with a manufacturing capacity of 250,000 vehicles per annum is expected to be commissioned within the year 2025 subject to administrative approvals. In the first phase, the investment would be over Rs 11,000 crore. 

The US Dow Jones index futures were down 162 points, indicating a weak opening in the US stocks on Monday. 

Asian shares were mixed on Monday as investors watched for Chinese economic data. China will report data on April's industrial production, retail sales, fixed asset investment and unemployment on Monday. 

Markets in Singapore, Malaysia, Indonesia and Thailand are closed for a holiday on Monday. 

US stock market witnessed a relief rally on Friday. The Dow rose 466.36 points, or 1.47%, while the S&P 500 climbed 2.39%. The Nasdaq Composite jumped 3.82% and posted its strongest one-day gain since November 2020. Still, all three averages posted losing weeks.