The Indian equity benchmarks edged higher on Thursday ahead of the monthly expiry of June futures and option contracts led by gains in Infosys, Tata Consultancy Services, HDFC bank, ICICI Bank and HDFC. The Sensex rose as much as 309 points and Nifty 50 index reclaimed its important psychological level of 15,750. Meanwhile, other Asian markets were trading on a subdued note with China nudging lower, while the U.S. dollar held below an 11-week high as investors reassessed U.S. Federal Reserve statements on inflation and looked to upcoming data for direction.
As of 12:02 pm, the Sensex was up 215 points at 52,520 and Nifty 50 index advanced 55 points to 15,741.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent to 695.2 points, off a one-month trough of 685.12 touched earlier this week.
Japan's Nikkei rose slightly to 28,905.5, while Chinese shares were in the red with the blue-chip CSI300 index off 0.3 per cent.
Overnight, Wall Street shares were mixed on Wednesday, with the Nasdaq closing at a record high, while other major U.S. indexes ended lower alongside European stocks as traders eyed the latest statements from Federal Reserve officials.
Back home, foreign institutional investors bought shares worth Rs 3,156 crore while domestic institutional investors bought shares worth Rs 1,317 crore.
Reliance Industries was trading flat ahead of 44th Annual General Meeting of the company later in the day.
Buying was visible across the board as all the 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty IT index' nearly 1 per cent gain. Nifty Metal, Bank, Media, Private Bank, PSU Bank and Realty indices also rose between 0.35-0.7 per cent.
Mid- and small-cap shares were in line with larger peers as nifty Midcap 100 index rose 0.22 per cent and Nifty Smallcap 100 index advanced 0.5 per cent.
Tata Consultancy Services was top Nifty gainer, the stock rose 1.3 per cent to Rs 3,304. JSW Steel, Infosys, Larsen & Toubro, Tata Steel, UltraTech Cement, Axis Bank, Wipro, ICICI Bank, Maruti Suzuki, Sun Pharma, Shree Cements and Hindustan Unilever were also among the gainers.
On the flipside, Adani Ports, Eicher Motors, ONGC, Titan, Power Grid, Cipla, NTPC, SBI Life, Grasim Industries, Reliance Industries, Hero MotoCorp, UPL and HDF were among the losers.
The overall market breadth was positive as 1,700 shares were advancing while 811 were declining on the BSE.