BSE Sensex advanced 1.14 per cent or 842.13 pts to trade at 74,572.29 as of 2.30 pm and Nifty 50 rose by 196.90 pts or 1.0 per cent to trade at 22,616.85.
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Sectoral indices continued to trade in a mix with nifty realty being the top loser at 959.10, down by 1.03 per cent. Bank stocks gained over 1 per cent.
Nifty PSU Bank was up 2.37 per cent at 7,554.95 and Nifty Bank rose 2.22 per cent at 49,269.40.
The stocks that were major gainers on the NSE as of 2.33 pm were ICICI Bank (4.69 per cent), SBI (3.45 per cent), Axis Bank (2.56 per cent), IndusInd (2.36 per cent) and Ultratech Cement (2.20 per cent). Meanwhile, HCL Technologies (5.88 per cent), Apollo Hospitals (4.56 per cent), HDFC Life (2.70 per cent), Bajaj Auto (2.19 per cent) and LTIMindtree (1.13 per cent) were the major laggards.
Some of the major stocks that hit a 52-week high on the NSE were Supreme Industries (12.65 per cent higher), SMC Global Securities (8.08 per cent), ICICI Bank (4.82 per cent), SBI (3.57 per cent), Tata Power (2.72 per cent) and Axis Bank (2.69 per cent).
On the BSE, 2,016 stocks advanced of the 4,047 stocks that were traded as of 2.41 pm, 1,849 stocks declined and 182 remained unchanged. The number of stocks that hit a 52-week high was 268 and those that hit a 52-week low was 11. In addition, 408 stocks traded in the upper circuit and 242 traded in the lower circuit.