Sensex jumps 200 points; Nifty hits 3-month high

The BSE Sensex gained around 200 points, while the broader Nifty is trading 60 points higher. Gains tracked strong Japanese equities which scaled a near five-year peak after the Standard & Poor's 500 Index closed at a record high overnight on renewed hopes of a steady U.S. recovery.

Stocks leading gains on Sensex included ITC, up 2.5 per cent, ICICI Bank, up 2 per cent, while HDFC Bank traded 1.4 per cent higher.

Tata Motors and Hero MotoCorp were among the top Sensex gainers. Both the stocks were trading up between 2.7 per cent and 2.9 per cent as of 2:28 p.m.

Foreign institutional investors were net buyers of Rs 897 crore of stocks on Monday, taking the 2013 net buying to a total of $12.17 billion, provisional exchange data showed.