The Sensex is up 342.98 points or 1% at 34658.61, while the Nifty is higher by 96.10 points or 0.93% at 10399.60. The market breadth is positive as 415 shares advanced, against a decline of 99 shares, while 3,044 shares are unchanged.
Among sectors, banks are trading strong, while automobiles, energy, FMCG, and metals are trading in the green. Midcaps, too, are in the green, with Nifty Midcap rising over half a percent.
Shares of HDFC Bank are higher by 2.5 percent higher as investors react to its September quarter results. Indiabulls Housing is the other big gainer.