BSE Sensex gained 262.13 points to 57875.85 and NSE Nifty rallied 88.65 points to 17,040.35 in morning trade. Nifty Bank jumped 322.3 points to 39,890.20 and Nifty Midcap soared 246.45 points to 29,571.
Shares of Adani Enterprises Ltd and Adani Ports gained over 4% in morning trade. Meanwhile, UPL and Reliance shares declined in early trade.
According to a Reuters report, "Analysts expect high volatility in Wednesday's session ahead of the March derivatives series monthly expiry."
The broader Asian equity indexes rose, aided by Alibaba, which jumped 15% in Hong Kong on plans to split into six units and explore fundraisings or listings, added the Reuters report.
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