The BSE Sensex rose 137.37 points or 0.37 percent to 37,282.82 in early trade while the NSE Nifty edged higher by 35.60 points or 0.32 percent to 11,038.65.
Major gainers in the Sensex pack were Yes Bank, Tata Motors, Vedanta, Tata Steel, IndusInd Bank, Bajaj Auto, Maruti, SBI, L&T, Heromoto Corp, M&M, and Asian Paints, rising upto 8.16 percent.
However shares of HCL, Infosys, Tech Mahindra, TCS, ITC, Kotak Bank, HDFC and Bajaj Finance were major losers, falling upto 2.21 percent.
The BSE, the NSE, forex, money and bullion markets were closed on Tuesday on account of 'Muharram'.
MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.4 percentto hit a fresh 5-1/2-week high.
Nikkei average climbed 0.9%, with the Topix Value index jumping 1.9 percentwhereas the Topix Growth added 0.8%. The Shanghai Composite and the blue-chip CSI300 were almost flat and down 0.3%, respectively, while Hong Kong`s Hang Seng advanced 1.4%.