MUMBAI: Benchmark indices Sensex and Nifty rebounded in early trade on Monday, mirroring a sharp rally in global markets, as softer-than-expected US inflation report has reignited hopes of Fed rate cuts.

Prospects of a US–China trade deal and fresh foreign fund inflows also added to the markets' optimism.

The 30-share BSE Sensex climbed 272.7 points to 84,484.58 in early trade. The 50-share NSE Nifty went up by 88.55 points to 25,883.70.

From the Sensex firms, Tata Steel, Bharti Airtel, Reliance Industries, State Bank of India, HDFC Bank and NTPC were among the major gainers.

However, Infosys, Bharat Electronics, Kotak Mahindra Bank and Bajaj Finance were among the laggards.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong'

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