At around 12:10 pm, Nifty was trading up by 0.92% or 114.75 points at 12,575.80 and Sensex was up by 468.80 points or 1.10% at 43,066.23, crossing the 43k mark again in the mid-day trade.
With Bank and Financial Services stocks leading the trade in the noon session, Bajaj Finance up by 6.95%, IndusInd Bank by 5.40%, Bajaj Finserv up by 4.83% and SBI showing an increase by 4.58% were among the top gainers on Nifty.
On Sensex, HDFC Bank up 4.43%, ICICI Bank gained 3.91%, UltraTech Cement also up by 3.33% and Axis Bank rose by 2.73% were the top gainers.
However, selling seen in the Nifty are Cipla which is down by 4.67%, Tech Mahindra by 4.66%, HCL Tech by 4.16% and Infosys, Nestle India down by 4.05% and 3.50%, respectively.
Power Grid trading down by 0.27%, Bajaj Auto by 0.47%, Sun Pharma by 1.12% and Asian Paint by 1.25% were the top losers on Sensex.
Elsewhere in Asia, the Hong Kong stock market index, Hang Seng, was trading up by 133.46 points or 0.51% at 26,148.