The Nifty PSU Bank index rose nearly 2% led by gains seen in J&K Bank, which soared 14%, while Bank of Baroda, State Bank of India, Canara Bank and Punjab National Bank were up over 2% each.
From the pharma space, the index is also up 1% in the noon trade. Biocon surged 4%, Piramal climbed 3% followed by Sun Pharma, Glenmark, Cadila and Dr Reddy’s also up over 1-2% respectively.
Also, the Nifty metal index recovered from the morning losses as the rally was seen in Tata Steel, which is up over 2%. Further, SAIL, Ratnamani Metals, MOIL, Jindal Steel & Power and Hindustan Copper are among top gainers on the metal index.
Max Financial Services, Muthoot Finance, Rallis India, IRCTC, Balkrishna Industries, SRF, Apollo Hospitals and Dr Reddy's Labs are among the others that hit a 52-week high, while Sterling and Wilson Solar, Sobha, Duke Offshore and Rolta India hit a 52-week low.
Meanwhile, the rupee has recovered from the day's low and currently trading at 71.64 against US Dollar.