The BSE Sensex gains 0.65 percent, while the Nifty is up 0.63 percent, heading for a second consecutive day of gains after the Dow average hit a closing record high on Tuesday.
Ending in the positive territory would mark the indexes' first back-to-back daily gains since a three-day streak of slight to moderate gains on Feb 18-20.
Software services exporters are leading gainers as traders also bet the weakening outlook on the rupee could help improve returns from overseas profits.
Infosys gains 1.37 percent, while Tata Consultancy Services rises 0.7 percent.
DLF Ltd gains 4.35 percent ahead of a board meeting in which the property developer will decide on a share sale that traders are betting could come at a higher-than-expected price.
ICICI Bank Ltd rises 1.1 percent a day after the private sector bank said it had received $100 million in repatriation from its UK unit.
However, Mahindra & Mahindra Ltd falls 1.3 percent a day after the automaker said in an exchange filing it had received a notice of strike from the employees union at its Nashik plant, while saying work had stopped briefly in two assembly shops at the plant.