Equity benchmarks extended gains in afternoon trade, with the Nifty hitting a fresh 52-week high of 8970.05 for the first time since September 2016.
The 30-share BSE Sensex was up 113.93 points at 28978.64 and the 50-share NSE Nifty rose 38.95 points to 8965.85.
The broader markets also traded in line with benchmarks on positive breadth. About 1261 shares advanced against 1171 declining shares on the BSE.
Telecom is the leading gainer today on the back consolidation in sector. Bharti Airtel surged 4.8 percent on acquisition of Telenor India while Idea Cellular jumped over 7 percent after a media report indicated that Japanese fund SoftBank is likely to pick up some stake in proposed merged entity but the fund denied stake buy.
Jyothy Labs shares rallied 5 percent on reports that Henkel began due diligence for buying stake in the company.
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