Benchmark indices were trading higher led by gains in banking stocks which pushed the Nifty above the 8000 levels in trade. Strong global cues in which most of Asia was trading higher also helped catapult the markets.
HCL Tech saw huge losses of almost 10 per cent in trade following a warning on "tepid revenues" and a warning on forex losses.
Other tech stocks continued to rally with Infosys, TCS and Wipro among the gainers. Banking stocks were having a good session in trade with State Bank of India and ICICI Bank leading gainers. Hero Motor Corp was the only loser from the Sensex in trade.
Shares in Punjab National Bank and Bank of Baroda were up following a cut in their base lending rates.
Midcap stocks also gained in line with the index stocks with Ajanta Pharma and Jubilant Foodworks among the gainers in trade. Auto stocks lost ground ahead of auto numbers to be revealed later today. Tata Motors and Maruti were among the losers.
Meanwhile, markets in Asia were trading higher led by strong closings across Europe and US on Wednesday.
The Japanese Nikkei and the Korean Kospi were higher while the Shanghai Composite closed for trade.