The Nifty has crossed the 5,000 levels barrier and is now at 5,015, up 70 points.
The Sensex is at 16,888, up 250 points.
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(Updated at 1312hrs)
The Sensex touched a high of 16,832 and has pared some of its gains. The index is now at 16,755, up 114 points.
The NSE Nifty is at 4,974, up 30 points.
Reliance Infrastructure has advanced 3.5% to Rs 1,337 and TCS has added 3% to Rs 578.
Bharti Airtel, SBI, Maruti and Reliance have increased 2% each to Rs 350, Rs 2,111, Rs 1,505 and Rs 2,140, respectively.
Wipro, ITC, Infosys, Reliance Communications and Jaiprakash Associates are up over 1.5% each.
Hero Honda and BHEL are down 1.5% each at Rs 1,618 and 2,390, respectively.
The market breadth is marginally positive, out of 2,662 shares traded, 1,524 advanced and 1,071 declined on the BSE.
The BSE consumer durables added 3% to 3,781.
