Nifty also rose by 25 points after slipping into negative terrain due to profit booking.
Improved US jobless claims, easing inflation, persistent capital inflows by foreign funds and better than expected Q3 results by corporates boosted the confidence in domestic market.
Wipro , third largest India's software service exporter, Q3 net profit up by 10% better than market expected and its shares surged by 4%.
At 3.30 pm IST, the 30-share BSE Sensex was trading at 16731.69 up by 87.95points or 0.53% and NSE Nifty was trading at 5048.60 up by 30.20 points or 0.60%.
In Asia, most of the markets were trading in positive terrain, the Shanghai and Nikkei were up by 1%.
Among sectoral indices on BSE, most of the sectors were trading in positive terrain, Consumer Durables, Bankex, Power were leading the rally.
FMCG, Metal, TECk, and Health Care were bleeding in red.
On the National Stock Exchange (NSE), the top volume gainers were Bajaj Auto, ICICI Bank, Axis Bank, Kotak Bank and PNB posted gains between 4.06%-6.53%
And the loser in the trade were ITC, DR Reddy, Reliance Power, Maruti and Reliance Power.