Nifty stocks that lost ground in early trade were Sesa Goa, IDFC, Cairn, Bharti Airtel and M&M.
Among sectoral indices on BSE, Realty, Power IT, Auto and TECk were leading the rally.
Shares in Wipro rallied after the company y announced that it has signed a definitive agreement to acquire 100% shareholding of the L.D. Waxsons Group, a Singaporebased Fast Moving Consumer Goods (FMCG) company for an all cash consideration of about USD 144 million.
Meanwhile, markets in Asia were trading higher after the data from China and the United States that rekindled hopes of growth in the world's top two economies. Japan's Nikkei was up 21% at 9,547, while Hong Kong's Hang Seng was up 0.43% at 22,285.
Markets have rallied substantially in the last couple of weeks, gaining ground largely on the back of liquidity inflows from foreign funds.