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Benchmark indices have extended the gains amid strong Asian cues, along with auto, capital goods nad financial shares leading the rally.
At 10:20AM, the 30-share Sensex rose 512 points at 19,782 and the 50-share Nifty gained 156 points at 5,835 levels.
On the global front, Asian stocks rose to three-month highs on Tuesday as investors wagered upcoming Chinese data will add to signs the global economy is stabilising, while receding fears of a U.S. military strike against Syria eased oil prices.
Russia's proposal to work with Damascus to put its chemical weapons under international control could avert planned U.S. action and prompted President Barack Obama to say he saw a possible breakthrough in the crisis.
Back home, the rupee rose to a two-week high on Tuesday as receding geopolitical risks from Syria and strong exports in August helped lift the currency.
The rupee was at 64.34/35 to the dollar versus its Friday close of 65.24/25. It rose to 64.30 in session, its highest since August 28.
On the sectoral front, BSE Auto and Capital Goods indices have spurted by 3% each followed by counters like Banks, Realty, TECk, FMCG, Power, Consumer Durables and IT, all surging by 2% each. Infact, all the major BSE sectoral indices are trading in green zone.
The main gainers on the Sensex at this hour include Tata Motors, HDFC, Bharti Airtel, L&T, Maruti Suzuki and ITC, all gaining between 3-5%.
Tata Motors has surged nearly 6% to Rs 335, extending its 7% rally in past three trading sessions on BSE, after the company's UK arm Jaguar Land Rover (JLR) recorded USA retail sales of 6,661 units in August - the best month since 2005.
Shares of telecom services provider such as Bharti Airtel, Idea Cellular and Reliance Communications (RCom) have rallied up to 5% on the bourses the Telecom Regulatory Authority of India (TRAI) proposed a 37% reduction in base price for upcoming mobile phone spectrum auction.
Indraprashta Gas is trading higher 2.5% at Rs 268 after the company has increased CNG (compressed natural gas) and PNG (piped natural gas) by 8% in Delhi and NCR region.
Axis Bank has rallied over 5% to Rs 1,005 after the Reserve Bank of India (RBI) lifted the ban on foreign investors buying into the private sector lender following a fall in shareholding by them in the bank below the prescribed limit of 49%.
The market breadth in BSE remains positive with 954 shares advancing and 285 shares declining.
