The Sensex is now at 14,976, up 231 points.
The index after opening 109 points higher, has pared some gains after touching a high of 15,017.
The IT index has led the rally with a gain of nearly 6% at 3,709.
TCS has soared 12.5% to Rs 487. Wipro has zoomed nearly 9% to Rs 467. Infosys has surged 4.5% to Rs 1,951.
Jaiprakash Associates and Reliance have gained over 3% each to Rs 220 and Rs 1,933, respectively.
Sterlite has advanced nearly 3% to Rs 605, and Grasim is up 2.5% at Rs 2,774.
ACC, BHEL, Larsen & Toubro, ICICI Bank and DLF have added over 1% each.
ITC, Reliance Communications, Reliance Infrastructure have declined 1.5% each to Rs 256, Rs 269 and Rs 1,150, respectively.
The market breadth is fairly positive - out of 2,155 shares, 1,456 have advanced and 625 have declined so far.