The key barometer indices were trading in a narrow range near the day's high in afternoon trade. The Nifty was trading above 15,100 mark. All the sectoral indices on the NSE were in the green. Banks and financial shares were in demand.
At 13:20 IST, the barometer index, the S&P BSE Sensex, surged 669.20 points or 1.35% at 50,234.06. The Nifty 50 index jumped 194.55 points or 1.31% at 15,100.60.
HDFC Bank (up 2.95%), Housing Development Finance Corporation (HDFC) (up 2.39%) and ICICI Bank (up 2.29%) boosted the indices.
In the broader market, the S&P BSE Mid-Cap index rose 0.83%. The S&P BSE Small-Cap index gained 0.77%.
Buyers outpaced sellers. On the BSE, 1,968 shares rose and 1,040 shares fell. A total of 149 shares were unchanged.