Mumbai:The benchmark Sensex rose more than 2% to its one-month high on Monday, 16 December on hopes of another stimulus announcement to boost the slowing economy, buying by foreign funds and buoyed Asian markets.
True to speculations the PSU banks announced interest cuts on loans ranging from Rs5-20 lakh, this move is expected to boost the bullish trend further.
The 30-share BSE index was 143 points up at 9829 and the wide based 50-share NSE Nifty index was up 55 points at 2974.45 at 12:35am.
Late morning Nifty touched 3000 mark, first in months since the meltdown began.
India Infoline shares topped gainers list by rising 19.58% to Rs46.10, followed by GMDC (16.54%, Rs37) and Lanco Infratech (13.28%, Rs155.25).
Indian rupee is also at its one-month high and Asian markets are on the rise on hopes that US automakers bailout may come about.