At 10:41 am, the Sensex traded 107.51 points - or 0.27 per cent - higher at 39,460.18 while the Nifty was up 21.65 points - or 0.18 per cent - at 11,849.90.

Reliance Industries, HDFC and HDFC Bank contributed the most to the advances on Sensex.

Tata Motors shares fell as much as 3.66 on the BSE, a day after the carmaker reported its earnings for the quarter ended March 31. In a regulatory filing post-market hours on Monday, Tata Motors posted a net profit of Rs. 1,117 crore for the three-month period, marking its first quarterly profit in the fiscal year.

Some analysts say that the rally before the election results due on Thursday could be short-lived. The poll of polls, an aggregate of exit polls, gives the BJP-led National Democratic Alliance (NDA) 302 of 543 seats. (Read more: NDA to form government comfortably, predicts poll of polls)

Equities in other Asian markets wobbled near four-month lows on mounting worries about the US-China trade talks.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat in early trade but stayed close to a four-month low touched on Friday. It has fallen about 8 per cent from a nine-month peak hit just over a month ago. Japan's Nikkei fell 0.5 per cent.

In New York, the S&P 500 lost 0.67 per cent while the Nasdaq Composite dropped 1.46 per cent.