Sensex extends gains, Nifty above 9,200 on positive global cues

The benchmark indices on Monday extended gains in the noon deals tracking positive trade in global markets after the market's favored candidate, Emmanuel Macron, won the first round of the French presidential election, reducing the risk of a Brexit-like shock.

Back home, investors await a slew of quarterly earnings reports, including that of Reliance Industries due later in the day. 

At 2:43 pm, the S&P BSE Sensex was trading at 29,639, up 274 points, while the broader Nifty50 was ruling at 9,212, up 93 points. 

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.6% and 0.8%, respectively. 

The market breadth, indicating the overall health of the market, was positive. On BSE, 1,565 shares rose and 1,082 shares fell. A total of 148 shares were unchanged.

Cement stocks were among the biggest gainers on the NSE index, following better-than-expected quarterly results by ACC on Friday. The Nifty realty index climbed as much as 3.9% to its highest since July 2014.

ACC gained as much as 7.6% and was the top percentage gainer on the Nifty.

HDFC Bank hit a new high of Rs 1,538, up 2.7%, extending Friday’s 2.4% gain on BSE, after the private sector lender reported a better-than-expected net profit for the quarter ended March 2017 (Q4FY17).

In past one-week, HDFC Bank outperformed the market by gaining 7% as compared to a marginal 0.32% rise in the S&P BSE Sensex.

But IT stocks fell on continued concerns over US President Donald Trump's order last week to a review the country's visa program to encourage hiring Americans. Tata Consultancy Services, Infosys, and Wipro dropped more than 1% each.

TCS, Infosys, and Wipro are top beneficiaries of the H-1B visa programme, using it to send computer engineers to service clients in the US, their largest overseas market.

Overseas, Asian markets were trading mixed.

Japan's Nikkei jumped 1.5% as the yen retreated, while MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.3%.

Shanghai shares, however, fell 1.7% after state media signaled Beijing would tolerate more market volatility as regulators clamp down on riskier financing.

(With inputs from Reuters)