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By 9:30, the Sensex was higher by 71 points at 19,086 mark and the Nifty gained 19 points at 5,781 levels.
On the global front, U.S. stocks rebounded from their worst decline since November on Tuesday after Federal Reserve Chairman Ben Bernanke defended the Fed's bond-buying stimulus and sales of new homes hit a 4 1/2-year high.
Bernanke, in testimony on Tuesday before the Senate Banking Committee, quieted rumblings that the central bank may pull back from its stimulative policy measures, which were sparked by the release of the Fed minutes last week.
The Dow Jones industrial average gained 0.84%, to 13,900 at the close. The Standard & Poor's 500 Index rose 0.61%, to 1,497. The Nasdaq Composite Index advanced or 0.43%, to close at 3,130.
Asian shares rebounded on Wednesday as US equities rose on solid data and the Federal Reserve's affirmation of its commitment to monetary stimulus, but investors remained wary of political gridlock in Italy reigniting the euro zone financial crisis.
Back home, BSE Realty index has surged by almost 1.5% followed by counters like Capital Goods, Oil & Gas, Metal, FMCG, Consumer Durable, Power, Banks and PSU, all gaining by 1% each. However, BSE Auto and IT indices have declined by 1% each.
The main gainers on the Sensex at this hour include Bharti Airtel, Sterlite, HDFC, JSPL, RIL, BHEL, L&T and Hindalco.
Bharti Airtel is the top Sensex gainer, up by almost 3%. Morgan Stanley raised its rating on Bharti Airtel Ltd to "overweight" from "equalweight," citing positive factors for the sector such as rising tariffs and data volumes, falling capital spending and eased competitive intensity.
On the losing side, M&M, Maruti Suzuki, Infosys, Tata Motors and Hero Moto have declined between 1-2%.
Among other shares, Fairfield Atlas has locked in upper circuit of 5% at Rs 137 after its board approved the delisting offer received from parent company.
The broader markets are out performing the benchmark indices. The market breadth in BSE remains upbeat with 819 shares advancing and 369 shares declining.
