The S&P BSE Sensex index rose as much as 387 points to touch 54,210.15 in the first few minutes of trade, and the broader NSE Nifty50 benchmark climbed to as high as 16,236.65, up 106 points from its previous close.
Equities in other Asian markets were mixed in early trade. MSCI’s broadest index of Asia-Pacific shares outside Japan was up by 0.11 per cent.
Overnight on Wall Street, the three benchmark indices settled higher. Dow Jones gained 0.80% to 35,116.40, while S&P 500 soared 0.82% to 4,423.15. Nasdaq rose 0.55% to 14,761.29.
Meanwhile, in the oil market, crude prices fell for third day with Brent futures down 22 cents, or 0.3 per cent, to $72.19 a barrel. US WTI crude fell 33 cents, or 0.5 per cent, to $70.23 a barrel.