A benchmark index for Indian equities joined the rally in other Asian markets and was ruling a percent higher two hours into trade Wednesday.

At 11.07 a.m., the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,389.47 points, was at 17,558.93 points, up 175.75 points or 1.01 percent from its previous close.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 5,253.15 points, against the previous close at 5,198.1 points, a gain of 1.06 percent or 55.05 points.

Broader markets were also in the green with the BSE midcap index up 0.82 percent and the BSE smallcap index trading 0.8 percent higher.

All the 13 sectoral indices on the BSE were in the green, with those for metals, capital goods, and PSU stocks gaining the most.

The market breadth was positive, with 1,654 stocks advancing, 865 on the decline and 106 remaining unchanged.

Other Asian markets were also ruling in the positive terrain.

The benchmark Japanese index, Nikkei, was ruling 1.15 percent up at 10,845.38 points, while Hong Kong's Hang Seng was ruling 1.57 percent higher at 21,353.62 points.

The South Korean Kospi too was in the green, moving up 1.83 percent to 1,678.09 points, while the Chinese Shanghai composite index was ruling 1.33 percent up at 3,032.5 points.