The surge was in line with the Asian indices, analysts said. Healthy buying in auto, healthcare and finance stocks also supported the indices.

Around 11.55 a.m., Sensex was trading at 30,906.60, higher by 1,012.64 points or 3.39 per cent from the previous close of 29,893.96.

It had opened at 30,571.19 and has so far touched an intra-day high of 30,955.72 and a low of 30,420.22.

The Nifty50 on the National Stock Exchange was trading at 9,044.20, higher by 295.45 points or 3.38 per cent from its previous close.

Among the Sensex stocks, the top gainers were Hero MotoCorp, Maruti Suzuki India and Bajaj Auto, while Hindustan Unilever, Tech Mahindra and IndusInd Bank were the only losers so far.

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