Indian markets extend upside during late Friday morning and were racing towards their record-high gains. IT stocks continued to witness higher buying sentiment, while banking stocks also picked up the pace and outperformed both Sensex and Nifty 50.
At around 11.03 am, Sensex was trading at 51,739.75 up 208.23 points or 0.40%. Nifty 50 traded at 15,226.35 higher by 53.05 points or 0.35%.
So far, Sensex has touched an intraday high of 51,787.51, while Nifty 50 has climbed to the day's high of 15,237.95.
IndusInd Bank emerged as top gainer on Sensex soaring by 2.3% followed by Infosys, Axis Bank, HDFC, ICICI Bank and Tech Mahindra surging over 1% each.
HDFC Bank and HCL Tech also contributed nearly 1% gain.
Sensex's underperformers list included ITC in the lead plunging 3% followed by
ONGC down 2%. NTPC and
Sun Pharma tumbled over 1% each. Maruti Suzuki and Titan dived by 0.5% each.
In terms of sectoral indices, on BSE, Bankex topped by 300 points followed by IT index surged 285 points.
Gains in IT and banking stocks, offset losses of other sectoral indices thereby lifting benchmarks.
BSE Consumer Durables dipped by 172 points, while BSE FMCG fell by 134 points. BSE Metal and BSE Oil & Gas slipped by 127 points and 115 points.