The rise in the market was in line with the gains in the Asian market. Healthy buying in finance and banking stocks also supported the domestic indices.

At 10.22 a.m., Sensex was trading at 30,093.75, higher by 1,557.97, or 5.46 from the previous close of 28,535.78.

It had opened at 29,073.71 and has so far touched an intra-day high or 30,099.91 and a low of 28,566.34.

The Nifty50 was trading at 8,721.55, higher by 403.70 points or 4.85 per cent from the previous close.

On the Sensex, IndusInd Bank, Axis Bank and Bajaj Auto were the top gainers while NTPC, ITC and Maruti Suzuki were the only stocks that fell so far.

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