The Sensex is trading around the same level. The index is now up 160 points at 17,543. The Nifty is up 52 points at 5,249.
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(Updated at 1150 hrs)
Markets are trading near the day's high.
The Sensex surged to a high of 17,577 on positive cues from teh global markets. The index is trading strong at 17,550 - up 166 points (1%).
The Nifty is up 53 points at 5,251.
The BSE metal index has gained 1.5% to 17,792. The capital goods, PSU and healthcare indices are also in green.
Reliance Infrastructure gains 2.3% at Rs 1,014. Tata Steel has added 2% to Rs 639. Hindalco and DLF have advanced 1.7% each to Rs 173 and Rs 318, respectively. Sun Pharma is up 1.7% at Rs 1,695.
TCS, Grasim, ICICI Bank, Larsen & Toubro, Wipro and ACC have also moved up. Reliance Communications, Jaiprakash Associates, Bharti Airtel, HDFC and Sterlite are the other gainers among Sensex stocks this morning.
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However, Hindustan Unilever is down 1% at Rs 224.
The BSE market breadth is positive. Out of 2,705 stocks traded, 60% have advanced while 37% have declined.