The Sensex jumped over 2 percent, rising nearly 400 points to its highest in two months on Friday, led by gains in ICICI Bank, L&T and ITC. The Nifty traded above the key 5,250 mark, up 2.1 percent at 5,258.35.
At 01:30 p.m., the 30-share BSE index was trading 2.2 percent higher at 17,362.16. ICICI Bank (3.9 percent), L&T (4 percent) and ITC (3.2percent) led the gainers' pack.
Leading the upmove in the BSE benchmark, both ITC and HDFC Bank hit their 52-week highs today backed by strong demand. ITC surged over 3 percent to hit Rs 259.90 and HDFC Bank rose over 2 percent to touch its 52-week high of Rs 560.
The government's clarifications on GAAR guidelines boosted market sentiment, but analysts said the gains may be temporary as market participants will await complete details of the changes in the contentious General Anti Avoidance Rules.
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