BSE Sensex gains 405 points on strong corporate earnings, closes above 17K

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"So far results have been healthy and sentiments are better. The market is poised and ICICI results will matter. I believe they will handsomely beat expectations," R. Parthasarathy, head of institutional sales at Antique Stock Broking said.

"Inflation numbers were also below expectation and helped the markets on the way up," he added.

Elsewhere in South Asia, Pakistan's Karachi 100 advanced 0.85 percent at 15,434.74 points, while Sri Lanka's Colombo All-Share declined 0.97 percent to 2,651.64, its biggest daily fall in three months.

In Asia, markets continued to remain choppy, tracking near record rise in prices of global crude oil. Japan's Nikkei 225 surged 2.38 percent to 13,863.47; South Korea's Kospi gained 1.41 percent to 1824.68; and, Singapore's Straits Times advanced 0.37 percent to 3189.20.

However, Hong Kong's Hang Seng declined 0.64 percent to 25,516.78; China's Shanghai Composite fell 0.71 percent to 3557.75; Taiwan's Taiex slipped 0.47 percent to 8947.83; Malaysia's Kuala Lumpur Composite dropped 0.39 percent to 1288.08; and Indonesia's Jakarta Composite ended down 1.30 percent to 2240.58.

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