Back home, investors await a slew of quarterly earnings reports, including that of Reliance Industries due later in the day.
At 2:43 pm, the S&P BSE Sensex was trading at 29,639, up 274 points, while the broader Nifty50 was ruling at 9,212, up 93 points.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.6% and 0.8%, respectively.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1,565 shares rose and 1,082 shares fell. A total of 148 shares were unchanged.
Cement stocks were among the biggest gainers on the NSE index, following better-than-expected quarterly results by ACC on Friday. The Nifty realty index climbed as much as 3.9% to its highest since July 2014.
ACC gained as much as 7.6% and was the top percentage gainer on the Nifty.
HDFC Bank hit a new high of Rs 1,538, up 2.7%, extending Friday’s 2.4% gain on BSE, after the private sector lender reported a better-than-expected net profit for the quarter ended March 2017 (Q4FY17).
In past one-week, HDFC Bank outperformed the market by gaining 7% as compared to a marginal 0.32% rise in the S&P BSE Sensex.
But IT stocks fell on continued concerns over US President Donald Trump's order last week to a review the country's visa program to encourage hiring Americans. Tata Consultancy Services, Infosys, and Wipro dropped more than 1% each.
TCS, Infosys, and Wipro are top beneficiaries of the H-1B visa programme, using it to send computer engineers to service clients in the US, their largest overseas market.
Overseas, Asian markets were trading mixed.
Japan's Nikkei jumped 1.5% as the yen retreated, while MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.3%.
Shanghai shares, however, fell 1.7% after state media signaled Beijing would tolerate more market volatility as regulators clamp down on riskier financing.
(With inputs from Reuters)
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