Domestic equity benchmark Sensex jumped over 150 points in opening session on Thursday ahead of the Reserve Bank of India's monetary policy outcome.
The BSE Sensex was trading 183 points or 0.49 per cent higher at 37,846.33; while the NSE Nifty was up 52.70 points or 0.47 per cent at 11,154.35.
ONGC was the top gainer in the Sensex pack, rising over 3 per cent, followed by Tech Mahindra, TCS, HCL Tech, NTPC, Infosys and HDFC duo.
On the other hand, Maruti, Axis Bank, Bharti Airtel, M&M and Reliance Industries were among the laggards.
In the previous session, the 30-share Sensex ended 24.58 points or 0.07 per cent lower at 37,663.33, while the Nifty inched up 6.40 points or 0.06 per cent to close at 11,101.65.
Exchange data showed that foreign institutional investors sold equities worth Rs 60.18 crore on a net basis on Wednesday.
According to traders, investors are positive ahead of the Reserve Bank of India's monetary policy outcome, scheduled for later in the day.
Participants are keeping a close eye on the RBI policy outcome and that would set the tone for the rest of the day as well, said Ajit Mishra, VP - Research, Religare Broking.
"While the expectations are mixed on key rates, we feel commentary on the moratorium and future outlook would hold importance," he added.
Bourses in Shanghai, Hong Kong and Tokyo were in red, while Seoul was trading on a positive note.
Stock exchanges on Wall Street ended on a positive note in overnight session.
Global oil benchmark Brent crude was trading 0.20 per cent higher at USD 45.26 per barrel.
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