The NSE Nifty 50 index rose 0.7 per centto 12,718.65 by 0514 GMT and the S&P BSE Sensex gained 0.672 per centto 43,545.6.
The metal index galloped by 3% at 2,673, with Tata Steel, Vedanta, Hindalco and JSW Steel surging by 2-5% each. Tata Motors, HDFC and Infosys were the other significant gainers on the NSE.
Ujjivan Small Finance Bank IPO: The shareholders will get a discount of Rs 2 per share on the final issue price.
According to Asia Index, which is a 50-50 partnership between S&P Dow Jones Indices LLC and BSE, listed companies like Titan, UltraTech Cement and Nestle India will enter the barometer as part of the reconstitution exercise.
Consumer businesses are suffering in India as economic expansion has slowed to a six-year low, exacerbated by a credit crunch amid a shadow banking crisis.
Titan share price: On the Bombay Stock Exchange (BSE), Titan shares fell as much as 10.42 per cent to an intraday low of Rs 1,150 apiece.
Kotak Mahindra Capital, CLSA India, Edelweiss Financial Services and JM Financial are lead managers of the IPO.
Aramco is looking to float a 1 per cent to 2 per cent stake on the kingdom's Tadawul market, in what would be one of the largest ever public offerings, worth upwards of $20 billion.
On the Bombay Stock Exchange (BSE), MTNL shares rose as much as 4.91 per cent to an intraday high of Rs 6.19 apiece on Thursday.
On the National Stock Exchange (NSE), Axis Bank shares opened higher at Rs 718 apiece and advanced to as much as Rs 730 apiece, marking a increase of 2.42 per cent.
Infosys late on Monday in a regulatory filing said the company has received anonymous whistleblower complaints alleging certain unethical practices.
Infosys news: An anonymous group sent letters alleging that the company was taking "unethical" steps to boost short-term revenue and profit.
The second bond issue with 10-year tenure was fully subscribed at a rate of 7.39 per cent, according to an Air India spokesperson.
Reliance Jio Infocomm will charge customers 6 paise per minute for calls made to rival networks till such time that the telecom regulator moves to a zero termination-charge regime, the company said after market on Wednesday.