Benchmark indices surged for another session in trade, as the Dow Jones Industrial Average gained ground, nearing record levels.
The Dow Jones hit the highest level since July, pushing Asian Indices higher with the Japanese Nikkei surging 2.65 per cent, while the Hang Sang was up nearly 2 per cent in trade.
The Dow Jones is now just 2 per cent, below record highs.
The rally was led by banks, with ICICI Bank surging a huge 5 per cent, while other banking stocks like State Bank of India, Bank of Baroda, Punjab National Bank and State Bank of India were the other gainers in trade.
Shares in IT stocks were the worst hit, following a dismal set of results by Wipro. The index was down 1 per cent, while Wipro fell 6 per cent, following numbers that did not match expectations.
Tata Consultancy and Infosys were the other stocks that were trading lower. Mid cap stocks saw good buying interest with PSU banking stocks leading the gainers led by Allahabad Bank, Canara Bank and Syndicate Bank.
Meanwhile, most Asian markets were trading higher, while the rupee was trading at 66.33 to the US dollar.