Markets hold gains in noon deals: Nifty hovers around 9,600; ITC top gainer

Extending gains for the third straight session, the benchmark indices rose nearly 1% as consumer goods makers such as ITC surged on hopes the newly implemented Goods and Services Tax (GST) would reduce retail prices and boost sales.

At 2:07 pm, the S&P BSE Sensex was trading at 31,206, up 285 points, while the broader Nifty50 was ruling at 9,605, up 85 points.

In the broader market, the S&P BSE Midcap and the S&P Smallcap indices rallied 0.9% and 1%, respectively.

Market breadth depicted strength. There were more than two gainers against every loser on BSE. 1,712 shares rose and