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The BSE benchmark Sensex continued to trade on a positive note in the noon deals supported by gains in power, capital goods and metal stocks.
50-share Nifty was firm above its important psychological level of 8,750 led by gains in ITC, BHEL, NTPC and Cairn India.
Power stocks were in high demand in late morning trades today with NTPC, Suzlon Energy, Reliance Infrastructure, Alstom T&D and Tata Power rising above 1 per cent each. The BSE power index was also up over 2 per cent.
Buying resumed in the PSU banking stocks after the government signaled that it is ready to allow lenders raise funds from the market to meet their capital needs.
The CNX PSU bank index rose nearly 1 per cent as compared to 0.75 per cent gain in Nifty.
Shares of Oriental Bank, Bank of India, Punjab National Bank, IDBI Bank and Bank of Baroda were up over 1 per cent each.
Capital goods, metal, oil & gas, FMCG, consumer durables and auto stocks were also witnessing buying.
Meanwhile, the BSE mid-cap and small-cap indices were broadly in line with the benchmark indices, up around 1 per cent each.
At 1:08 p.m., the Sensex was up 204 points at 28,863 and the 50-share Nifty advanced 53 points to 8,752.
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