The Sensex opened flat at 17,692. The index thereafter surged on Asian cues and touched a high of 17,784 and is now up 90 points at 17,799 .
The Nifty is up 25 points at 5,329.
The Asian markets are trading firm in opening trades.
The Hang Seng is quoting at 21,575, stronger by 331 points or 1.5% and the Nikkei is at 11,141, higher by 226 points or 2%.
Bankex has jumped 1.2% to 11,211. The BSE metal, PSU and auto indices have also moved up nearly 1% each.
Jaiprakash Associates has gained 2.5% at Rs 161. HDFC Bank has jumped 2% to Rs 1982.
Wipro and Tata Power have added 1.5% each to Rs 1382 and Rs 528, respectively.
Maruti Suzuki has advanced 1.6% to Rs 1384.Hero Honda and Mahindra & Mahindra have added 1% each.
Sterlite and Hindalco have moved up 1.4% each to Rs 807 and Rs 181, respectively.
Other gainers in the index include HDFC, Bharti Airtel, ICICI Bank and Reliance Communications.
Cement stocks are up. Grasim and ACC have advanced nearly 1% each.
However, Sun Pharma has slumped 5.5% to Rs 1591. Reliance is soft in morning trades and has dropped 1.2% to Rs 1,074.