Mumbai: Benchmark Sensex surged 246 points in late morning trade on widespread buying in metal, telecom, auto, realty and financial sectors amid firm Asian cues.
The 30-share index was trading higher by 246.04 points or 0.75 per cent at 33,195.25 at 1100 hrs.
The broader Nifty too was trading above the key 10,200- level, up by 81.65 points or 0.80 per cent at 10,248.35.
Major gainers were Maruti 2.27 per cent, Bharti Airtel 2.09 per cent, Tata Motors 2.03 per cent, Tata Steel 1.96 per cent and ONGC 1.72 per cent.
Foreign portfolio investors (FPIs) sold shares worth net Rs 1,075.62 crore on Thursday, while domestic institutional investors (DIIs) bought to the tune of Rs 926.68 crore.
Asian markets were trading higher following a broad-based rally in US equities.
US stocks closed higher on Thursday, with the S&P 500 snapping a four-session losing streak on the back of gains in technology, industrials and materials sectors.