The S&P BSE Sensex index rose 476.55 points - or 1.23 per cent - to 39,184.18 at the strongest level recorded in early deals, and the broader NSE Nifty 50 benchmark climbed to as high as 11,548.10, up 131.15 points - or 1.15 per cent - from its previous close.
At 9:40 am, the Sensex traded 460.67 points - or 1.19 per cent - higher at 39,157.72, while the Nifty was up 130.00 points - or 1.14 per cent - at 11,546.95.
IndusInd Bank, TCS, Wipro, Tata Steel and Axis Bank, trading between 2.41 per cent and 5.81 per cent higher, were the top gainers in the Nifty basket of 50 shares.
On the other hand, Cipla, Nestle and Sun Pharma - down 0.50-1.03 per cent each - were the worst hit among 12 laggards in the benchmark index.
Analysts awaited the outcome of a Supreme Court hearing due later in the day in which a batch of petitioners have sought a waiver of interest on deferred EMIs during the moratorium period. The government has said, in a filing on October 2 with the top court, that it will waive the compounding interest component on small business and some other loans related to education and housing, and credit card dues.
TCS, Infosys and ICICI Bank were the top contributors to the gain in Sensex.
Tata Consultancy Services (TCS) is due to kick off the earnings season by reporting its financial results for the July-September period.
Equity markets elsewhere in Asia moved higher. MSCI's broadest index of Asia Pacific shares outside Japan was last seen trading 0.80 per cent higher, while Japan's Nikkei 225 benchmark was up 1.35 per cent.
Mr Trump was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday. Relief about his health could fuel a rally in equities and other risky assets as investors prepare for the run-up to next month's US presidential election.
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