Indian benchmark indices were trading with healthy gains in afternoon session as traders indulged in enlarging positions. Positive quarterly results from IT firms Infosys and MindTree also boosted sentiments. Traders were getting encouragement by a report in which S&P Global Ratings said growth in large Asia Pacific economies like China, India and Indonesia will be lesser affected as these economies are more domestically oriented.

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The Sensex was trading at 58,206.88, up by 960.23  points or 1.68% after trading in a range of 58,435.12 and 58,097.10. On the index, only 28 stocks were advancing and 2 were declining.

The broader indices were trading in green with the BSE Midcap index up by 0.82% and the SmallCap index up by 0.81%.

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The top gaining sectoral indices on the BSE were IT up by 2.58%, TECK up by 2.43%, Bankex up by 1.98%, Financial Services up by 1.95%, Capital Goods up by 1.46%, while there were no losing sectoral indices.

The top gainers on the Sensex were Infosys up by 4.57%, HDFC Bank by 3.28%, HDFC by 2.96%, Larsen & Toubro by 2.83% and Kotak Bank by 2.75%. On the flip side, Power Grid was down by 0.87% and Mahindra and Mahindra was down by 0.31%.

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The Nifty was trading at 17,278.75 up by 264.40 points or 1.55% after trading in a range of 17,348.55 and 17,251.40. On the index, 47 stocks were advancing against 3 stocks declining.

The top gainers on Nifty were Infosys up by 4.63%,  UPL Limited up by 3.32%, HDFC Bank up by 3.15%, HDFC up by 2.85% and Larsen & Toubro up by 2.46%. Whereas JSW Steel was down by 0.82%,  Power Grid was down by 0.68%,  Mahindra and Mahindra was down by 0.40%

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Asian markets were trading higher, the KOSPI rose 2.03%, Shanghai Composite gained 1.89%, Taiwan Weighted surged 2.48%, Nikkei 225 gained 3.25% and Hang Seng was up by 2.44%.