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The market gained more than 1 percent in early trade, tracking positive trend in global peers and oil rally. All sectoral indices were trading in green.

The 30-share BSE Sensex rose 297.08 points or 1.27 percent to 23678.95 and the 50-share NSE Nifty jumped 86.90 points or 1.22 percent to 7195.35. The BSE Midcap and Smallcap indices also gained more than 1 percent.

Hindalco Industries, Dr Reddy's Labs, Tata Motors, ICICI Bank, ONGC, Bank of Baroda, Vedanta and Cairn India rallied 2-5 percent while Bharti Airtel and Idea Cellular were in red.

The Indian rupee opened higher by 8 paise at 68.39 per dollar today against 68.47 on Wednesday.

Major Headlines of the day:

Tata Motors hopeful of resolving crisis at Tata Marcopolo
Ashok Leyland moves court against Nissan
Gati mulls nurturing logistics startups

Trend in FII flows:
The FIIs were net  sellers of  Rs -560 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 384.53 Cr, as per the provisional figures released by the NSE.

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