The equity benchmark indices traded higher on Wednesday after a holiday break, buoyed by plunging crude prices and strong foreign inflows.
At around 9:45 a.m., the Sensex was up 1,351.64 points or 1.67 percent at 82,458.29, while the broader Nifty advanced to 25,410.20, up 365.55 points or 1.46 percent.
1) Decline in crude pries: Brent crude futures slid to a two-month low of $89.16 per barrel on Tuesday after US officials played down the need for additional military action against Iran, easing concerns over supply disruptions. Prices were up 0.5% at $92 on Wednesday.
2) FIi buying: Foreign institutional investors bought equities worth Rs 7,212 crore.
3) Firm global cues: The MSCI Asia Pacific Index rose as much as 0.8 percent, with Japan's Nikkei 225 gaining 0.8 percent and South Korea's KOSPI advancing 0.6 percent. However, Chinese markets traded lower, with Hong Kong's Hang Seng declining 0.8 percent and the Shanghai Composite slipping 0.2 percent.