The Indian markets were trading firmly in the green on the back of strong global cues. The Sensex was up 241 points and was trading at 16,264 points while the Nifty was up by 72 points and stood at 4,878.
Among the sectoral indices metals and realty gained more than 2.2 per cent even as all sectors were trading comfortably in the green.
The broader market remained positive and the BSE small cap and mid cap both gained more than a per cent. The market breadth remained positive with 1746 shares advancing against 582 declines.
Among the Sensex stocks, Sterlite and Hindalco gained more than 3 per cent while DLF and Tata Motors were also above the 3 per cent mark. ICICI and HDFC Bank gained more than 2 per cent.
On the Nifty, only four stocks were in the red. Sun Pharma, HUL and ACC were all marginally lower. Idea Cellular was down 1.75 per cent.
Asian markets opened higher after the plunge yesterday on the back of the Wall Street recovering from the day's low when the index dived below the 10,000 mark for the first time this year.
Japan's Nikkei was up 1.21 per cent up 114 points to 9,574. Chinese markets were trading marginally higher with the Shanghai Composite up 0.26 per cent and the Shenzen 300 up 0.15 per cent.
South Korean Kospi, too, joined the green wagon with a gain of 0.49 per cent after being in the red for most of the trading session as the South Korean president re-designated the North as its archenemy, and the North retaliated by severing its few remaining ties with the South.
The KLSE was up 0.24 per cent and the Hang Seng gained 1.20 per cent.