The Sensex and the Nifty opened the day sharply higher on the back of strong global cues after solid closings across the US markets.
The Sensex was last trading higher by 218 points, while the Nifty opened higher by 62 points. Leading the set of gainers from the Nifty were software stocks like TCS, which rallied ahead of results from IT major Infosys. In fact, Infosys was also up one per cent ahead of its results to be declared later at 12.30 pm.
SpiceJet jumped a huge 9 per cent on reports that Ajay Singh-led investors have submitted a broad plan for SpiceJet and to pump in initial funds by January 10.
NBCC on the other hand jumped after the firm won PMGSY works valued at Rs 1,237 crore in Odisha.
Mid cap stocks were having a good session in trade with stocks like Voltas and Unitech among the gainers.
Meanwhile, markets across Asia were trading higher led by strong gains in the Hong Kong's Hang Sang and the Singapore's Strait Times. US markets had surged and European markets rallied three per cent after Mario Draghi hinted at quantitative easing.