At around 12.37 pm, Nifty 50 was trading at 16,019.50 up 134.35 points or 0.85%. Sensex traded at 53,456.74 higher by 506.11 points or 0.96%.
Nifty 50 has hit a new 52-week high of 16,025, while Sensex touched a new 52-week high of 53478.57.
Nifty 50 gainers were - Titan soaring nearly 4%, while HDFC and Sun Pharma jumped more than 3% each. Bharti Airtel climbed over 2.5%, while IndusInd Bank rose nearly 2%.
Nifty 50 underperformers were - Grasim plunged nearly 2%, while JSW Steel slipped over 1.3%. Shree Cement, Bajaj Auto and ONGC tumbled nearly 1% each.
India's volatility index zoomed nearly 6%.
In terms of sectoral indices, Nifty FMCG and Nifty Pharma strengthened over 1% each. Nifty Media and Nifty Metal dived 1.4% and 0.6% respectively.
The remaining other sectoral indices are higher between 0.4-1%.