The benchmark BSE Sensex was trading above the 32,000-mark due to building-up of fresh positions by retail investors and domestic institutional investors ahead of release of IIP data for August and inflation data for September tomorrow.

Positive cues from Asian markets tracking another record on Wall Street boosted the domestic sentiment. Strengthening of rupee against the dollar too aided the uptrend.

At 12.55 p.m., the 30-share BSE index Sensex was up 107.72 points or 0.34 per cent at 32,032.13 and the 50-share NSE index Nifty was up 35.4 points or 0.35 per cent at 10,052.35.

Barring FMCG, all other BSE sectoral indices were trading in the positive zone. Among them, oil & gas index gained the most by 1.79 per cent, followed by TECk 0.73 per cent, PSU 0.48 per cent and banking 0.35 per cent.

Top five Sensex gainers were Bharti Airtel (+4.01%), M&M (+1.93%), Bajaj Auto (+1.69%), Axis Bank (+1.45%) and TCS (+1.35%), while the major losers were Dr Reddy's (-1.32%), State Bank of India (-1.03%), Lupin (-1.00%), Maruti (-0.66%) and SBI (-0.52%).

Market heavyweights Tata Consultancy Services and Reliance Industries Ltd are slated to post results later this week. Shares of both companies were up over 1 per cent each.

On a broader front, the September-quarter earnings season is expected to be subdued due to the impact of the goods and services tax, Siddharth Sedani, Vice-President and head-equity advisory, Anand Rathi, said.

He said that he expects a turnaround only in the December-quarter.

Asian shares rose on Wednesday, tracking Wall Street’s rally to all-time highs, while the euro hovered near a 10-day peak after Catalonia’s leader talked down immediate plans to secede from Spain, easing near-term concerns about euro zone instability.

MSCI’s broadest index of Asia–Pacific shares outside Japan nudged 0.24 per cent higher to test a recent decade peak of 545.56.