The market has opened on a strong note supported by strong global cues. The Sensex is up 138.86 points or 0.5 percent at 26663.41 and the Nifty is up 40.50 points or 0.5 percent at 8168.35. About 660 shares have advanced, 98 shares declined, and 39 shares are unchanged.
Tata Motors, ICICI Bank, Dr Reddy's Labs, L&T and Sun Pharma are top gainers while GAIL and HDFC Bank are losers in the Sensex. The Indian rupee opened higher by 17 paise at 67.78 per dollar on Wednesday versus previous close 67.95.
The pound was little changed at USD 1.33 versus the dollar after gaining 0.9 percent last session, halting a two-day selloff. Pramit Brahmbhatt of Veracity said, "Positive cues from global equity market will govern today's move in the rupee and it is likely to appreciate for the day."
Asian share markets joined a global rally on Wednesday as the immediate impact of Britain's vote to leave began to wane and investors wagered central banks would have to ride to the rescue with more stimulus measures.
In Japan, the Nikkei 225 added 1.06 percent, while across the Korean Strait, the Kospi was up 0.4 percent. Australia's ASX 200 added 1.04 percent in early trade.
In the US, Dow Jones industrial average closed up 269.48 points, or 1.57 percent, at 17,409.72; the S&P 500 index added 35.55 points, or 1.78 percent, to 2,036.09 and the Nasdaq composite gained 97.42 points, or 2.12 percent, to 4,691.87.
Oil rose early as financial traders poured money back into commodities following the initial shock of Britain's vote to leave the European Union, and as a potential strike in Norway and crisis in Venezuela threatened to cut supply.
Gold slipped below USD 1320 an ounce as buyers cashed in gains from the biggest two-day rally in the metal since late 2008 made last week.
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