Indian stock market gained strength in afternoon trade supported by banking and financials, capital goods and index heavyweights like ITC and Reliance Industries. The Sensex rose 171.89 points to 26170.23 and the Nifty climbed 49.85 points to 7785.05. About 1123 shares have advanced, 1422 shares declined, and 94 shares are unchanged.
Bank Nifty jumped 380 points as ICICI Bank, HDFC Bank, State Bank of India and Axis Bank gained 2-3 percent. Housing finance company HDFC too rallied 2%. Capital goods majors Larsen and Toubro, and BHEL climbed 2-3% .
Utility vehicle maker Mahindra and Mahindra topped the buying list gained 3.93%. HCL Technologies and TCS remained under selling pressure, falling 8-9% after reporting lower than expected revenues in September quarter.