Market benchmark Sensex jumped over 100 points in opening session on Wednesday tracking gains in index-heavyweights Reliance Industries, HDFC Bank and Axis Bank amid firm recovery in global equities.
The 30-share BSE index was trading 115.08 points or 0.28% higher at 40,904.46, and the broader NSE advanced 26.15 points, or 0.22%, to 12,005.80.
In the previous session, Sensex closed at 40,789.38, up 2.30% or 917.07 points. This was the biggest single-day rise for the Sensex since September 23, 2019. Likewise, Nifty settled at 11,979.65, surging 2.32% or 271.75 points.
Meanwhile, on a net basis, foreign institutional investors bought equities worth ₹366.21 crore, while domestic institutional investors purchased shares worth ₹601.86 crore on Tuesday, data available with stock exchanges showed.
Mahindra and Mahindra, Bajaj Auto, Bharti Airtel, HCL Tech and L&T were among the top gainers in the Sensex pack.
While ITC, Infosys, Hero MotoCorp, Asian Paints, Titan, UltraTech Cement and HDFC were trading in the red.
According to analysts, markets were trading in the positive territory on the back of encouraging data points related to the domestic economy.
Other factors like substantial fall in crude prices, a rise in Indian rupee and positive Asian markets also helped the market move higher, they added.
Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with significant gains.
Exchanges on Wall Street too ended higher on Tuesday.
Brent crude oil futures rose 1.15% to $54.58 per barrel.
The rupee appreciated 4 paise to 71.21 against the US dollar in morning session.