The market has opened volatile on first day of February series but immediately gained strength.
- Sensex rose 122.59 points to 24592.16
- Nifty climbed 45.50 points to 7470.15.
- ONGC, ITC, Coal India, HDFC, Bharti Airtel, Vedanta, Cairn India and Kotak Mahindra Bank rallied 1.8-4 percent while ICICI Bank tanked 5 percent.
- Maruti Suzuki, Axis Bank, Tata Motors and Dr Reddy's Labs lost ground.
- The Indian rupee gained in the early trade today. It has opened higher by 13 paise at 68.10 per dollar against previous close of 68.23.
Asian shares were trading higher with Shanghai and Hang Seng up 2 percent each. Nikkei gained 1 percent after Bank of Japan adopted negative interest rate policy.
US equities closed higher as a rise in oil and gains in Facebook outweighed pressure from declines in biotech stocks and concerns about economic growth. The major indices ended off session highs but recovered from an intraday dip into negative territory.