Continuing their positive momentum, the benchmark stock indices jumped in early trade on Wednesday (August 30), with the Sensex surging more than 322 points amid positive global cues.
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The Sensex jumped 322.09 points or 0.49% to 65,397.91 points, while the broader Nifty rose 84.30 points or 0.44% to 19,426.95 points.
In the Sensex pack, the majority of the stocks were trading in the positive territory.
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M&M, Tech Mahindra, Tata Steel, Axis Bank, Infosys and Reliance Industries were among the gainers.
Asian markets, including Japan and Hong Kong, were trading marginally higher on Wednesday (August 30).
On Tuesday, the European and U.S. indices closed in the green.
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The Sensex gained 79.22 points to close at 65,075.82 points, while the Nifty rose 36.60 points to settle at 65,229.03 points on Tuesday.
In a pre-market open note, Deepak Jasani, Head of Retail Research at HDFC Securities, said Asian stocks rose as China's largest banks reportedly prepare to cut interest rates and investors speculate that the U.S. Federal Reserve is nearing the end of its tightening campaign.
"U.S. stocks closed sharply higher on Tuesday, posting the third consecutive trading day of gains, following July job openings data that added more evidence of a cooling labour market and potentially more support for an eventual easing of interest rates by the U.S. Federal Reserve," he said.
Brent crude futures rose 0.33% to $85.77 per barrel.
Foreign Portfolio Investors (FPIs) were net buyers, purchasing shares worth ₹61.51 crore, according to BSE data.