Mumbai, Jan 4 (IANS) A key Indian equities index, which had managed to make gains soon after an early opening bell Monday, was ruling about 40 points higher than its previous close, about an hour after trade started.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 17,473.45 points and was ruling at 17,505.28 points, up 40.47 points or 0.23 percent from its previous close at 17,464.81 points, an hour into trade.

Around the same time, at the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 5,218.65 points, against the previous close at 5,201.05 points, a gain of 0.34 percent.

Broader market indices were doing relatively better, with the BSE midcap index up 0.62 percent and the BSE small cap index ruling 0.94 percent higher.

The market breadth was positive, with as many as 1,804 stocks advancing, compared to 593 on the decline, while 58 remained unchanged.

Indian stock markets started trade at 9 a.m. Monday, as per the directive issued by the two prominent exchanges -- BSE and NSE.