The Indian equity benchmark indices opened more than two percent higher on Thursday following global peers on hopes of stimulus measures from the government and signs of coronavirus nearing a peak.

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The Sensex opened 677.23 points or 2.27 percent higher at 30,571.19, while the Nifty50 index opened at 8,973.05, up 224.30 points or 2.56 percent.

Buying was witnessed across sectors with all the Nifty sectoral indices trading with 1-3 percent gains.

Broader indices, Nifty Smallcap100 and Nifty Midcap100, also traded with gains of more than 2 percent each.

Cipla, Vedanta, Axis Bank, ICICI Bank and Mahindra & Mahindra were the Nifty50 top gainers, while Adani Ports & SEZ was the only one to trade in the red.

Meanwhile, in Asia, shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures, while expectations of an oil production cut agreement bolstered crude prices.

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