Sensex and Nifty moved higher in early today amid higher global markets.
Broad-based buying was seen even though oil marketing companies were under pressure.
The Sensex was up around 150 points while Nifty hit 10,781.
Indian Oil, HPCL, BPCL shares were under pressure as global oil prices continued to rise.
ICICI Bank, Tech Mahindra, Eicher Motors, Asian Paints and MM rose about 1 per cent.Asian stocks rose on Thursday, with energy shares leading the way as crude oil prices moved higher after US President Donald Trump's decision to pull out of a nuclear deal with Iran.
MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.4 percent, while Japan's Nikkei climbed 0.1 percent.
South Korea's KOSPI rose 0.4 percent and Shanghai edged up 0.3 percent.
Brent crude futures rose 0.7 percent to $77.76 a barrel in early trade, the highest since November 2014 and building on gains of about 3 per cent on Wednesday.Overnight, the Dow gained 0.75 per cent and the SP 500 climbed nearly 1 percent, with the SP energy index rallying 2 per cent.
Energy shares soared as crude oil prices reached 3-1/2-year highs, with investors betting the US withdrawal from a nuclear agreement with Iran would increase tensions in the Middle East and curtail oil supply.Rising oil prices in turn pushed up US Treasury yields by fanning inflation concerns.
The 10-year Treasury note yield rose to a two-week high above the 3 per cent threshold before pulling back a little to 2.986 percent.
Shored up by higher yields, the dollar climbed to a 4-1/2-month high of 93.416 against a basket of six major currencies overnight.
The dollar index was last at 92.979.