BSE Sensex surges 184 Points in morning trade

The Sensex had closed the previous session on Wednesday, up 259.65 points or 1.01 percent, while the Nifty ended higher by 79.85 points or 1.03 percent.

"Broader markets ended in the green although underperforming the headline index".

All sectoral indexes ended higher Wednesday.

Oil and gas shares gained after global crude oil stabilised after they hit 11-year lows early this week. Shares like Hindalco, Tata Steel and Vedanta shot up between 2%-4%. On the other hand, select auto shares witnessed selling pressure with M&M, Force Motors and Hero Motocorp down between 0.2-0.5 percent. "We believe that the index may overall remain rangebound in coming sessions and thus, due to lack of trade set up in the index, it's advisable to focus on individual stocks", said Angel Broking in a research note.

Among others, shares of Suven Life Sciences were up over 4% at Rs 267 after the company said it has received seven product patents for their new chemical entities in several countries.

"Market breadth also favoured the bulls throughout the day with 1,504 advances and 1,160 declines".

In the previous session, the gauge gained 216.68 points.

The S&P BSE Sensex ended up 260 points at 25,850 and the NIfty50 closed 80 points higher at 7,866. on December 3, 2015, the S&P BSE Sensex had ended at 25,887 and the Nifty50 had ended at 7,864. The Shanghai Composite index fell 0.67 per cent. Capital goods, banking and financial stocks, Reliance Industries and Sun Pharmaceutical Industries were among the major contributors to gains, while SUV maker Mahindra & Mahindra and Adani Ports and Special Economic Zone were amongst the handful of decliners. Renewed buying interest by foreign funds also boosted investor sentiment. The BoP for the first six months continued to remain positive with total accretion of $10.6 billion to forex reserves, which was lower than $18 billion in the first half of FY15.

Tata Steel increased to its highest level since August 10, while Oil & Natural Gas rallied 3.2%, trimming this year's loss to 33%. European markets were in a better form in their early trade.

Mumbai, Dec 23 Positive global cues, coupled with the government's efforts to build consensus on the bankruptcy bill and healthy domestic macro-data, cheered the Indian equity markets on Wednesday.

Asian shares were mostly higher, helped by gains on Wall Street overnight and a recovery in oil prices.