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Markets were trading near their day's highs with financials and information technology shares leading the gains.
At 2PM, the 30-share Sensex was up 401 points at 27,717 and the 50-share Nifty was up 126 points at 8,351.
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(Updated at 1PM)
Benchmark share indices extended gains amid robust buying interest in bank shares. The above average rains so far, which has positively impacted the sowing of Kharif crops, has also lifted the sentiment on Dalal Street.
Further, traders are also positive tracking strong cues from the Asian peers on the back of last minute proposal by Greece to end the deadlock. European markets also opened higher tracking developments on Greece.
At 1 PM, the Sensex was higher by 345 points at 27,670 and the Nifty gained 115 points at 8,340.
Among broader markets, BSE Midcap and Smallcap indices are up 1,23% each. The market breadth is positive with 1,545 shares advancing and 907 shares declining on the BSE.
On the currency front, rupee is still going strong; appreciating by 5 paise to 63.54 levels on continues selling of the US dollar.
However, the markets might remain volatile ahead of the futures and derivatives (F&O) expiry for the month of June.
SECTORS & STOCKS
On the sectoral front, BSE Bankex has surged over 2% while indices such as Realty, FMCG, Consumer Durables, Metal and Power are up between 1-3% each. Bank Nifty has gained 498 points at 18,378 levels.
Tata Motors has soared over 2% on the Sensex as the automobile company registered sales of 3,000 GenX Nanos in one month.
From the financial pack, Axis Bank has surged over 4% and is the top gainer on the Sensex. HDFC twins, SBI, ICICI Bank have gained between 2-3% each on the Sensex.
Tata Steel UK has called off its one day strike scheduled for June 22 and has decided to negotiate on the pension scheme. The stock has gained 1.3% on the Sensex.
Lupin is the new entrant among the top 30 shares on the Sensex, replacing private sector electricity producer Tata Power. Lupin has gained 0.6%. Tata Power is higher by 2%.
Infosys is scheduled to have its annual general meeting later in the day sans its founding members. The stock is up 1%.
Dr Reddy's Laboratories has gained 1% after the launch of HAiROOTZ, the first hair growth supplement to be marketed in India as over-the-counter (OTC) by the company.
On the flip side, Wipro, ONGC, Reliance Industries and Bharti Airtel have lost between 0.5-2% each on the Sensex.
Among other shares, shares of Indiabulls Real Estate have surged 23.4% on the BSE in after the company said its promoters will buy 10% stake in the property development company for Rs 538 crore.
Aurobindo Pharma has gained nearly 1% after the pharma company received an approval from US Food and Drug Administration (USFDA) to manufacture and market Entacapone tablets and Azithromycin injection.
Shares of Bajaj Finance have surged over 5% after the company has successfully raised Rs 1,400 crore by issuing 3.27 million equity shares to qualified institutional buyers at the issue price of Rs 4,275 per share through qualified institutional placements (QIP).
