Nifty PSU Bank is the outperforming sector, up over 2 percent led by Punjab National Bank, State Bank of India and Bank of Baroda which jumped 2 percent each followed by Canara Bank, Bank of India and Bank of India.
Bulls are in complete control of Dalal Street as the Indian benchmark indices continues to surge this afternoon with Nifty jumping 139 points at 11,478 while the Sensex zoomed 450 points and is trading at 38,206 mark.
At 14:25 hrs, Nifty PSU Bank is the outperforming sector, up over 2 percent led by Punjab National Bank, State Bank of India and Bank of Baroda which jumped 2 percent each followed by Canara Bank, Bank of India and Bank of India.
Kotak Mahindra Bank, ICICI Bank and IDFC First Bank are the other gainers.
Nifty IT continues to show handsome gains led by Tata Consultancy Services which jumped 3 percent followed by Wipro, Infosys, Tech Mahindra, Tata Elxsi and HCL Tech.
Media stocks are also buzzing led by Zee Entertainment, UFO Moviez, Sun TV Network, PVR, Dish TV and EROS International.
However, FMCG stocks are trading on a weak note with loses from Hindustan Unilever, Dabur India, Marico, Emami and GSK Consumer.
The top Nifty gainers included Kotak Mahindra Bank, TCS, Zee Entertainment, Power Grid and State Bank of India while the top losers included HUL, Bharti Airtel, YES Bank, Coal India and UltraTech Cement.
The most active stocks were Kotak Mahindra Bank, Reliance Industries, YES Bank, ICICI Bank and State Bank of India.
ICICI Bank, Bata India, DCB Bank, Godfrey Phillips, INOX Leisure, IDFC First Bank, Titan Company and UPL have hit 52-week high on NSE.
The breadth of the market favoured the advances with 869 stocks advancing and 855 declining while 356 remained unchanged. On the BSE, 1,278 stocks advanced, 1271 declined and 178 remained unchanged.Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.