The Indian market started on a positive note on Thursday, tracking gains in Asian markets although overall investor sentiment remains cautious ahead of the long weekend.

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The Nifty traded at 10,619, up by 19 points while the Sensex surged by 70 points to 35,270. Benchmark indexes closed Thursday's session with losses.

With gains of more than a percent, BSE IT was leading the 26 advancing sectors, while BSE Telecom declined by 1.9 percent and was the weakest among 19 declining sectors.

Among top index gainers, Tech Mahindra surged nearly 2 percent. Yes Bank shares also gained well over a percent. GAIL, Zee Entertainment and Tata Motors surged by up to a percent.

Shares of Bharti Airtel fell 3 percent on media reports that the Indian Railways may replace Bharti Airtel with Reliance Industries' subsidiary Reliance Jio Infocomm as its telecom service provider. Bharti Infratel also fell by nearly 2 percent. Among other losers were HPCL, Grasim and BPCL, falling by up to 1.26 percent.

The rupee opened higher at 71.14 against the US dollar on Thursday. The currency and debt market was closed on Wednesday. The rupee had closed at 71.45 against the greenback on Tuesday.

Asian stocks recovered tracking gains on Wall Street. Japan's Nikkei was up by 0.26 percent, while Hong Kong's Hang Seng was mildly up by 0.04 percent.

The Indian equity and currency market will remain closed on Friday on account of Guru Nanak Jayanti.

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