A benchmark index for Indian equities on Monday built on early gains and was trading 339 points higher in afternoon trade on positive cues from other Asian markets which rose after China announced that it will move towards a flexible currency.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,654.81 points, was ruling at 17,910.73 points, 339.91 points or 1.93 per cent up from its previous close at 17,570.82 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was ruling at 5,362.65 points, up 1.9 per cent from its previous close at 5,262.6 points.
Broader markets indices were also in the positive, with the BSE midcap index ruling 1.35 per cent higher and the BSE smallcap index 1.38 per cent up.
Metals, realty and banking scrips were among the major gainers and all the 13 sectoral indices on the BSE were in the green.
Asian markets saw more broad-based buying after China said it would make the Yuan, which has been pegged to the US dollar, more flexible, bringing releif to foreign manufacturers. Metal scrips rose in tandem with increasing prices of such commodities across the globe.
The Japanese Nikkei ended at 10,238.01 points, up 2.43 per cent, while the South Korean Kospi closed at 1,739.68 points, 1.62 per cent higher.
Hong Kong's Hang Seng was trading 2.96 per cent higher at 20,056.25 points, while the Chinese Shanghai composite index was up 2.9 per cent up at 2,586.21 points.