Sensex soars, Bank Nifty hits fresh high

Cheered by positive global cues and healthy buying in index heavyweights such as Tata Steel, Axis Bank and Reliance Industries, the 30-scrip Sensitive index (Sensex) of the BSE traded at new highs during the mid-afternoon trade session on Monday.

Besides, the wider NSE Nifty banking index touched a fresh high of 23,806.65 points during intra-day trade as investors' sentiments were buoyed on reports that Prime Minister Narendra Modi will review the measures taken by the RBI to resolve the non-performing assets (NPA) issue of Indian state-run banks.

The S&P BSE banking index too traded with gains of 294.35 points or 1.10 per cent.

Around 2.55 p.m., the Sensex traded at 31,320.72 points -- up 264.32 points or 0.85 per cent from its previous close at 31,056.40 points.

It has so far touched a high of 31,362.15 points and a low of 31,163.35 during intra-day trade.

The wider NSE Nifty rose by 71.75 points or 0.75 per cent to trade at 9,659.80 points.