Indian equity benchmark indices opened 2 percent higher on Thursday following Asian peers as positive developments overnight on a potential new treatment for COVID-19 and a surge in oil prices kept the global sentiment upbeat.

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At 9:15 am, the Sensex rallied 661.03 points, or 2.02 percent, to 33,381.19, while the Nifty50 index opened at 9,753.50, up 200.15 points, or 2.10 percent.

Buying was witnessed across sectors led by Nifty Private Bank, Nifty Metals, Nifty IT and Nifty Auto.

Broader indices supported gains with Nifty Smallcap100 and Nifty Midcap100 indices up 2.08 percent and 1.61 percent respectively.

Tata Motors, Vedanta, Hindalco Industries, ICICI Bank and Bajaj Finance were the Nifty50 top gainers, while Hindustan Unilever and BPCL were the only ones to trade in the red.

Meanwhile, in Asia, stocks rose to a fresh seven-week high on Thursday, lifted by encouraging early results for COVID-19 treatment using Gilead's drug remdesivir, though bonds and currencies held cautious ranges ahead of a European Central Bank meeting later in the day.

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