Global cues were robust in morning trades as the S&P 500 hit a new record high pushing global indices higher.
The 30-scrip Sensitive Index (Sensex), was trading higher by 151 points, while the Nifty was also trading with gains of 50 points.
Jaiprakash Associates, Larsen and Toubro, Siemens were all among the gainers. HDFC was the top Nifty gainer in trade rallying more than 2 per cent on hopes there would be some tax breaks for housing loans in the forthcoming budget.
Shares in Hero Motor Corp lost 4 per cent on reports that the promoters were selling a small part of their stake in the company.
Dr Reddys and Bajaj Auto were the other stocks that saw some losses in trade. Meanwhile, Asian markets were trading higher following robust closings in the US.