Nifty Midcap 100 index rose 0.9 per cent and Nifty Smallcap 100 index rose 1.7 per cent.
The Indian equity benchmarks extended gains in noon deals led by gains in rate sensitive banking, auto and financial services shares after the Reserve Bank of India kept repo rate unchanged at 4 per cent and maintained its accommodative stance. The benchmarks opened higher and extended gains after RBI's monetary policy decision. The Sensex rose as much as 699 points and Nifty 50 index climbed above its important psychological level of 14,850.
As of 1:17 pm, the Sensex was up 668 points or 1.36 per cent to 49,867 and Nifty 50 index rose 190 points or 1.29 per cent to 14,873.