Benchmark indices opened the day higher in trade led by gains in banking stocks, which saw some recovery in trade.
The Sensex was trading with gains of 196 points, while the Nifty rallied 51 points in trade. Leading the gainers from the Nifty and the Sensex were Yes Bank, ICICI Bank and Axis Bank. Other notable winners were Asian Paints, BPCL and Tata Steel.
Nifty stocks that fell in trade were Cairn India, IDFC and Kotak Bank. Mid cap stocks also saw some buying interest with Voltas, Crompton Greaves and Jain Irrigation among the losers.
Infosys continued to see buying interest after Accenture guided for a better performance. Larsen and Toubro was trading higher after the company won an order.
Zen Technologies surge a huge 6 per cent after the company said that it would be listed on the National Stock Exchange.
Meanwhile, markets across Asia were significantly higher apart from the Australian markets. The Chinese Shanghai composite scaled a fresh 7 year high on sustained buying.
The Hong Kong's Hang Sang and the Singapore Strait Times were other markets that gained in trade.