Benchmark indices opened the day higher on the back of strong global cues with the markets finally showing some signs of recovery.
Leading the set of gainers from the Nifty were stocks from the banking sector with ICICI Bank, Axis Bank, Yes Bank among the early gainers.
PSU banking stocks saw some robust gains with notable winners being State Bank of India, Oriental Bank of Commerce and Union Bank of India.
Shares in software companies also continued their upwards momentum with stocks like TCS and Infosys among the gainers.
Shares in Hero Motor Corp fell sharply after the company's results disappointed the markets. The stock was down more than 4 per cent in trade.
Shares in Titan also lost ground after the company's results lagged estimates. Talwalkars on the other hand gained ground after the company results were better than estimates. The stock was up a huge 6 per cent in trade.
Meanwhile, markets across Asia were trading with significant gains led by strong cues from the US. The Shanghai Composite, the Hong Kong's Hang Sang and the UK's FTSE were all higher in trade.