Indian markets continued to rise in early trade for the third day on Thursday tracking positive global cues.

The 30-share benchmark index, BSE Sensex opened with a gain of 425.92 points or 0.84% at 51,207.61, while the broad based NSE Nifty started with a rise of 97.85 points or 0.65%, at 15,079.85.

At 11.20 a.m., the Sensex was trading up 464.19 points or 0.91% at 51,245.88 with 27 components gaining.  Meanwhile, the Nifty was trading higher by 158.50 points or 1.06% at 15,140.50 with 43 components gaining.  

Major gainers in the 30-share index were HDFC Bank  (6.29%), Axis Bank  (4.59%), Indusind Bank  (4.41%), Oil & Natural Gas Corporation  (3.39%), Bajaj Finance (3.27%),  and Reliance Industries  (3.27%).

On the other hand, Asian Paints  (1.38%), Larsen & Toubro  (0.89%),  and Hindustan Unilever  (0.73%) were the major losers in the Sensex.

Market breadth was positive with 1,751 advances against 907 declines.

Commenting on the outlook, Motilal Oswal Financial Services said, "On option front, Maximum Put OI is at 14,000 followed by 14,700 strike while maximum Call OI is at 15,000 followed by 15,200 strike. We witnessed Put writing at 14,800 and 14,900 strikes while Call unwinding was seen at 14,900 and 15,000 strikes. Option data suggests an immediate trading range in between 14,850 to 15,150 zones."