Mumbai: Helped by positive Asian cues, a benchmark index for Indian equities markets was ruling about 245 points higher.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,270.87 points, was ruling at 16,434.66 points, 245.3 points or 1.52 percent up from its previous close at 16,189.36 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also was trading in the positive at 4,953.45 points -- up 1.63 percent or 79.55 points from its previous close.

Broader markets were also in the green. The BSE 500 index was ruling 1.5 percent higher from its previous close. The BSE midcap index moved up 1.46 percent and the BSE smallcap index rose 1.38 percent.

The market breadth was positive with 1,776 stocks advancing, compared to 752 on the decline. Another 106 remained unchanged.

Prominent gainers on the Sensex included Maruti Suzuki, Hindalco, DLF and Tata Steel. The only loser at this time was ITC.

Asian markets too were ruling higher buoyed by latest data which showed China growing faster than expected in the quarter ending December at 8.9 percent.

The Japanese Nikkei rose 1.05 percent and closed at 8,466.4 points, while Hong Kong's Hang Seng was 2.36 percent up at 19,461.12 points.

The Chinese Shanghai Composite index was also ruling 3.86 percent higher at 2,291.34 points.