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, reported its Q3 net profit up by 10% better than market expected and its shares surged by 4%.
At 10.20 am IST, the 30-share BSE Sensex was trading at 16726.24 up by 82.50 points or 0.50% and NSE Nifty was trading at 5036.40 up by 18.00 points or 0.36%.
In Asia, all the market opened in green, Shanghai which was up by 8.51 points at 2304.59, the Nikkei 225 was up by 135.41 points and was at 8774.68. The Hang Seng was up by 49.60points and was at 19,992.55.
Among sectoral indices on BSE, all the sectors were trading in positive terrain except Health care(-0.04) and Oil & Gas (-0.44). Consumer Durables, Bankex, Realty were leading the rally.
On the National Stock Exchange (NSE), the top volume gainers were Wipro, Bajaj Auto, ICICI Bank, Bhel and DLF posted gains between 2.66%-3.97%
And the loser in the opening trade were DR Reddy, Reliance Power, Coal India, Maruti and Reliance Infra.