Sensex, Nifty hold morning gains; SBI, Bank of Baroda top gainers

Benchmark indices rallied further in late morning trade, with the Sensex rising more than 150 points on the back of strong rally in PSU banks.

The 30-share BSE Sensex was up 153.80 points at 31,399.36 and the 50-share NSE Nifty rose 42.45 points to 9,680.05.

The broader markets continued to rally on strong breadth. About two shares advanced for every share falling on the BSE.

Nifty PSU Bank index rose nearly 3 percent after brokerage houses upgraded leading PSUs Bank of Baroda and Punjab National Bank as valuations turned reasonable after recent correction on NPA concerns.

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Posted in: Indian Market Tips