The Bombay Stock Exchange benchmark Sensex gained over 318 points in early morning trade on Wednesday on fresh buying by funds and strong global cues.
The 30-share index, Sensex, which remained distinctly weak in last four session, bounced back by over 318.12 points to 19,397.76 in first five minutes of trade.
Similarly, the wide-based National Stock Exchange's index Nifty shot up by 98.50 points to 5,840.80 as heavyweights stocks like Reliance Industries, Larsen and Toubro, BHEL and ONGC rose smartly.
Trading sentiments were influenced by firm global cues.
Hong Kong market opened 0.55 per cent higher today as investors looked for bargains among recently beaten-down stocks, with Wall Street's advance providing encouragement.
The US markets ended higher overnight following news that the European Central Bank (ECB) is offering about 500 billion dollar short-term funding to banks to ease money market problems.