At around 09.50 am, Sensex is trading at 49,007.14 up by 203.46 points or 0.42%. Nifty 50 was trading at 14,656.35 higher by 74.90 points or 0.51%.
In the early deals, Sensex has touched an intraday high of 49,026.16 and Nifty 50 clocked the day's high of 14,665.35.
Sensex gainers were - Asian Paints surging by 2.6% followed by Ultratech Cement higher by 2.4% and HCL Tech advancing by 2.1%. Other stocks like Power Grid, ONGC, M&M, Tech Mahindra, HDFC and Maruti Suzuki climbed around 1% each.
Sensex underperformers were - ICICI Bank and RIL tumbled around 1% each. Stocks like Bajaj Finance, Sun Pharma and Axis Bank marginally down.
Wipro surged nearly 8% after registering a whopping 27.78% rise in net profit to Rs2,972.3cr for the quarter ending March 2021 (Q4FY21), compared to a profit of Rs2,326.1cr a year ago same period. The tech giant's revenue from operations was at Rs16,245.4cr in the quarter under review, increasing by 3.4% from Rs15,711cr in the corresponding period of the previous year.
Companies that are set to announce their Q4 result today are - Mindtree, Den Networks, GTPL Hathway, MMTC, and AAR Commercial Company.
Investors focus will remain on fourth-quarter performance for fiscal FY21.
However, the consistent speedy surge in Covid-19 cases continues to play a spoilsport for markets upside. India has already crossed a milestone of more than 2 lakh Covid cases in a day. Major states like Maharashtra and Delhi have already announced stricter restrictions with weekend curfews and weekdays lockdown imposed.