The Sensex was trading 262 points higher at 35,676 while the Nifty rose 63 points at 10,493. The market breadth opened in favour of the advances with 1,078 stocks in green while 363 declined on the NSE.
Among the sectoral indices, the Nifty Pharma index was the only sectoral laggard on the Nifty index, while media index opened 1.4% higher, realty, Nifty Bank and Nifty Auto index gained in the opening trade.
Broader markets were also trading higher with Nifty Midcap and Nifty Smallcap up over 0.80% each.
Asian markets were trading in the positive zone on Thursday following positive news overnight around the development of a potential coronavirus vaccine. The Hang Seng index in Hong Kong led gains among the region’s major markets, rising 1. 6%. The Nikkei 225 rose 0.65%, the Topix index added 0.39% and South Korea’s Kospi gained 1.03%.