Equity benchmarks continued to see short covering and little bit of value buying as well.
The 30-share BSE Sensex gained 263.71 points or 1.04 percent at 25717.27 and the 50-share NSE Nifty climbed 89.60 points or 1.16 percent to 7806.60, led by banking & financials, capital goods, auto and metal stocks.
The BSE Midcap and Smallcap indices rallied too, up over 1.2 percent in noon trade. The market breadth remained positive as about 1600 shares have advanced against 660 shares declined on the Bombay Stock Exchange.
Ambuja Cements topped the buying list on Nifty, up over 4 percent after Nomura upgraded the stock to buy with target price of Rs 253 per share. It believes cement demand growth in non-south regions is likely to be strong.
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