Benchmark indices have added half a percent each with Nifty adding 66 points and is trading at 11,988 while the Sensex jumped 245 points and is trading at 40,029 level.
Banking stocks are buzzing in this afternoon session led by gains from YES Bank, IndusInd Bank, Bank of Baroda, ICICI Bank, Federal Bank, Canara Bank, IDBI Bank and Union Bank of India.
Media stocks are also buzzing with gains from Dish TV which spiked close to 10 percent followed by TV18 Broadcast, UFO Moviez and Zee Entertainment among others.
Metal stocks continue to trade in the green led by Jindal Steel and Power, JSW Steel, NALCO, NMDC, SAIL, Tata Steel and Vedanta.
Selective oil & gas stocks ate up in this afternoon session led by ONGC, Reliance Industries, HPCL and Indian oil Corporation.
India VIX is down 3.81 percent at 14.41 levels.
The top gainers from the NSE include YES Bank, Zee Entertainment, ONGC, Tata Motors and Vedanta while the top losers are Indiabulls Housing Finance, Sun Pharma, Mahindra & Mahindra, Bharti Airtel and Tech Mahindra.
The most active stocks are Indiabulls Housing Finance, YES Bank, TCS, PC Jeweller and Reliance Industries.
249 stocks have hit 52-week low on BSE including Jet Airways, Sintex Plastics, Eros Media, McLeod Russel, Kwality, Opto Circuits, Manpasand Beverages, Mercator, Aban Offshore, Castex Technologies, Reliance Infra, Reliance Communications, Radico Khaitan, Kolte-Patil Developers and Coffee Day Enterprises among others.
The breadth of the market favoured the declines as 812 stocks advanced and 927 declined while 358 remained unchanged on the NSE. On the BSE, 1072 stocks advanced, 1381 declined and 152 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.