Asian markets rallied and the Sensex followed suit on the back of higher than expected GDP data from China.
The Sensex was trading higher by 92 points, while the Nifty rallied 31 points in trade. Leading the set of gainers from the Nifty and the Sensex were once again the banking stocks led by ICICI Bank, HDFC Bank, Punjab National Bank and State Bank of India.
Shares in Tata Sponge Iron fell after the company reported a poor set of numbers. Mindtree was lower after a downgrade by a leading brokerage firm.
Mid cap stocks were also trading higher led by gains in Crisil, GSPL, Just Dial and MAX.
Real estate stocks were also in demand led by gains in DLF and Unitech. Meanwhile, markets across Asia were trading with gains, after Chinese data came in better than expected.