The sensex opened the day higher and was trading at 17435 points, up 290 points. The NSE Nifty too gained ground and was trading at 5306 points, up 86 points at 9.20 am IST.
Among the gainers today were the high beta metal stocks like Sterlite Industries and Tata Steel, as also banking stocks like State Bank and Axis Bank.
The rupee too opened the day strong on dollar inflows and strong domestic equities.
Oil marketing companies were soft, as there were no indications of a petrol hike. The MCX stock is expected to list today after 10.00 am and markets expect the stock to open significantly higher than its issue price.