The BSE benchmark Sensex resumed higher at 16,222.49 and shot up further to 16,347.48 before quoting at 16,325.55, a sharp rise of 533.14 points, or 3.38 percent, from its last close.
The National Stock Exchange's (NSE) 50-share Nifty Index was also up by 166.85 points, or 3.51 percent, at 4,918.15. All the 13 sectoral indices on the BSE were in the green.
Metal stocks surged after the London Metal Exchange, a gauge of six metals, jumped by 4.4 percent yesterday. IT stocks rose on positive economic data from the US, the largest outsourcing market for the Indian IT firms.
The major gainers in early trade were Jindal Steel (up 7.50 percent), Sterlite Industries (7.18 percent), Tata Motors (6.55 percent), ICICI Bank ((6.42 percent), DLF (6.01 percent) and Wipro (4.91 percent).
Asian stocks rose sharply in early trade, making a broad-based advance on fresh indications that Europe is ramping up efforts to shore up its financial system and prevent another global banking crisis.
The key benchmark indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were up by between 1.14 percent and 3.17 percent.
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