Reuters Market Eye - The Nifty gains 0.41 percent, while the benchmark Sensex rises 0.52 percent, heading for a second consecutive session of gains.
Gains come after both the Dow and the S&P 500 end at record highs, while Asian shares are further underpinned by data showing a surge in local currency loans in March.
Shares in Tata Motors Ltd rise 4.8 percent on hopes unit Jaguar Land Rover Ltd (JLR) will report solid global wholesales for March, which are due later in the day.
IT shares gain for a second day as previous losses are seen as overdone: Infosys Ltd gains 1.1 percent ahead of fiscal 2013 earnings on Friday.
However, shares of Jet Airways India Ltd fall 3.2 percent after Reuters reported a stake sale to Abu Dhabi's Etihad Airways could be delayed until at least August, two dealers said.
(Reporting by Abhishek Vishnoi)
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