By 9:34 am, the Sensex rose as much as 641.93 points to touch 50,375.77 and the broader NSE Nifty 50 benchmark climbed to as high as 15,039.40, adding 386.35 points to its previous close.
IndusInd Bank, Axis Bank, ONGC, Bajaj Finserv and Bajaj Finance were among the top gainers in early deals. On the other hand, Sun Pharma, Nestle and HCL Tech were the top laggards.
Asian shares rose in early trade on Thursday after the U.S. Federal Reserve said it was too early to consider rolling back emergency support for the economy, and as U.S. President Joe Biden unveiled plans for a $1.8 trillion stimulus package.
Markets in Japan were closed for a holiday but Nikkei futures edged 0.05% higher to 28,970.
Fed Chair Jerome Powell said on Wednesday that “it is not time yet” to begin discussing any change in policy after the U.S. central bank left interest rates and its bond-buying programme unchanged, despite taking a more optimistic view of the country’s economic recovery.
Oil prices extended gains on Thursday after rising 1% in the previous session as bullish forecasts for a demand recovery this summer offset concerns of rising COVID-19 cases in India, Japan and Brazil.
