India's benchmark stock indices extended gains through midday on Thursday, led by advances in HDFC Bank Ltd. and ICICI Bank Ltd. Sensex was trading above the 65,500 level, while Nifty was beyond the 19,500 mark.
Media, I.T. and consumer durables rose, while the PSU banking sector was under pressure.
As of 1:22 p.m., the S&P BSE Sensex rose 402 points, or 0.62%, to 65,628.42, while the NSE Nifty 50 gained 102 points, or 0.53%, to 19,538.55.
Global Indices
European equity futures tracked Asian shares higher after stocks and bonds rallied on Wall Street. Contracts for the Euro Stoxx 50 rose 0.4%, while U.S. equity futures were steady.
Shares in Japan, Hong Kong, and Australia rose. Mainland China markets remain shut for a week-long holiday. Oil ticked higher, paring losses from its steepest one-day drop in a year.
On Wednesday, the S&P 500 rose 0.8% in New York, its biggest gain in almost three weeks, while the Nasdaq 100 advanced 1.5%, its best day since August.
HDFC Bank Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd., Infosys Ltd., and Tata Consultancy Services Ltd. were positively contributing to the Nifty 50 Index.
Whereas, Power Grid Corp., HCL Technologies Ltd., Sun Pharmaceutical Industries Ltd., NTPC Ltd., and Hindalco Industries Ltd. were weighing on the index.
The broader market indices underperformed their larger peers, with the S&P BSE MidCap rising 0.01% and the S&P BSE SmallCap gaining 0.43% through midday on Thursday.
Fourteen out of the 20 sectors compiled by BSE Ltd. advanced, while six declined. S&P BSE Consumer Durables and S&P BSE Capital Goods gained the most.
The market breadth was skewed in favour of the sellers. About 2,167 stocks rose, 1,362 declined, and 148 remained unchanged on the BSE.
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