The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,536.48 points, was ruling at 17,722.34 points, 251.31 points or 1.44 percent up from its previous close at 17,471.03 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was ruling at 5,318.1 points, up 1.47 percent from its previous close at 5,241.1 points.
Broader markets indices were also in the positive, with the BSE midcap index ruling 1.15 percent higher and the BSE smallcap index up 1.21 percent.
The market breadth was positive thanks to buying interest in broader markets, with 2,042 scrips advancing, compared to 714 stocks declining, and 86 remaining unchanged.
Other major Asian markets were also on the rise, rising in tandem with the gains seen in the US. Key US market indices gained in Wednesday's trade over optimism of a good results season.
The Japanese Nikkei was ruling 2.76 percent up at 9,535.74 points, while the South Korean Kospi ended 1.37 percent higher at 1,698.64 points.
Hong Kong's Hang Seng was ruling at 20,148.36 points, up 1.47 percent, while the Chinese Shanghai Composite index was flat at 2,419.8 points.
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