Markets across the globe rallied, pulling Asian markets, including the Indian markets higher.
All eyes were on the US jobs data due later today, which would provide an important data point for the US Fed to consider before deciding on holding or raising interest rates in the US later this month.
Shares in NMDC gained after reports that the iron ore mining major is considering a buyback of fully paid-up equity shares of the company of face value of Rs 1 each. The stock was up 4 per cent in trade.
Reliance Industries also saw some buying interest after reports that the company has taken the first step toward the long-awaited commercial launch of 4G by selling its Lyf smartphones with SIM cards enabled for the high-speed service in India's bigger cities.
Midcap stocks were also trading higher led by gains in select Public Sector Banking stocks. Leading the gainers from the space were Canara Bank and Bank of India.
Shares in Idea Cellular was sharply lower after reports that Providence Equity Partners has decided to sell almost half of its stake in telecom operator Idea Cellular. The stock was down a huge 5 per cent in trade.
Meanwhile, the rupee opened at 67.22 to the US Dollar. Check curency rates here