The S&P BSE Sensex and NSE Nifty 50 Indexes extended yesterday's gains paced by a rally in banking shares such as HDFC Bank, Yes Bank, IndusInd Bank, Axis Bank and State Bank of India as the measure of banking shares on the National Stock Exchange - Nifty Bank index - surged to a record high of 30,094 in early trade. The S&P BSE Sensex rose as much as 223 points or 0.58 per cent to 38,456.86 and the NSE Nifty 50 Index climbed as much as 0.48 per cent or 55 points to 11,538.
As of 11:12 am, the Sensex traded 0.53 per cent or 203 points higher at 38,437 and the NSE Nifty 50 Index advanced 0.47 per cent or 53 points higher at 11,537.
All sector gauges, barring the measure of realty shares, were trading higher on the National Stock Exchange led by Nifty PSU Bank Index's 0.8 per cent gain. Private Bank, Pharma, Media, FMCG and Bank Indexes compiled by the NSE were also trading higher between 0.5 and 0.7 per cent each.
Mid- and small-cap shares were also witnessing buying interest as the Nifty Midcap 100 Index rose 0.44 per cent and the Nifty Smallcap 100 Index climbed 0.67 per cent.
IndusInd Bank was top gainer in the Nifty 50 basket of shares, the stock rose as much as 3.81 per cent to Rs 1,780. Indiabulls Housing Finance, Yes Bank, Bharti Airtel, Zee Entertainment, Dr Reddy's Labs and Larsen & Toubro were also among the gainers.
On the flipside, Hindustan Petroleum, Bharat Petroleum, Tech Mahindra, ONGC, NTPC, Power Grid and Reliance Industries were among the laggards.
Among the individual shares, GMR Infrastructure surged as much as 10 per cent after it informed exchanges that it will get a proposed investment by Tata Group, an affiliate of GIC, Singapore's sovereign wealth fund GIC and SSG Capital Management in its Airports Business.