Sensex and Nifty, jumped by nearly two per cent on Tuesday led by strong buying support in metal, energy and banking stocks.
At 2 PM, the benchmark S&P BSE Sensex was trading 1,062.2 points up at 54,036.36.
The broader Nifty was up 2.19 percent or 347.20 points up 16,189.50
The 30 stock S&P BSE Sensex was trading 930.62 points or 1.76 percent higher at 53,904.46 points at 12.44 PM, against its previous day's close at 52,973.84 points.
Earlier, the Sensex opened in the positive at 53,285.19 points and jumped to a high of 53,991.49. This is the second consecutive day of rally in the Indian equities markets. The Sensex had 180.22 points or 0.34 percent on Monday.
The broader Nifty 50 of the National Stock Exchange was trading 294.45 points or 1.86 percent higher at 16,136.75 points against its previous day's close at 15,842.30 points. The Sensex had gained 60.15 points or 0.38 percent on Monday.
There was strong buying support in metal, energy, IT and banking stocks. Tata Steel surged 4.94 per cent to Rs 1158.75. The index heavyweight Reliance Industries Limited was trading 3.46 percent higher at Rs 2511.40. ITC jumped 3.56 percent to Rs 263.10.
Maruti Suzuki soared 3.39 per cent to Rs 7500. ICICI Bank, HCL Technologies, L&T, Bajaj Finance, Axis Bank and Wipro were among the major Sensex gainers. Only three of the 30 scrips that are part of the Sensex were trading in the red. Sun Pharma, Dr Reddy's Laboratories and Tech Mahindra were trading marginally down.
