Nifty Realty index stood tall with gains of 2.56%, while Nifty Bank continued its upward trend and scaled to a fresh high of 40,587.
The company intends to take a price hike to offset raw material pressure that impacted margins in Q2
Sensex jumped 126 points or 0.21% to 61,050 while the Nifty 50 index was quoting at 18,230 higher by 52 points or 0.29%.
S&P 500 posted a record closing high on Thursday, helped by gains in consumer discretionary and technology shares, while U.S. Treasury yields jumped.
Nifty PSU Bank led the sectoral pack on the NSE with gains of 2.73% followed by Nifty Bank adding 1.30% to end above the 40,000.
Barring the Nifty IT (down 0.46%) index all other sectoral indices were trading with gains. Nifty Realty was the top gainer as it rallied 1.14%.
Overseas, Asian stocks are trading mixed on Thursday, as investors monitored shares of developer China Evergrande Group in Hong Kong.
The selloff in the broader markets was much severe compared to benchmark indices as BSE MidCap & BSE SmallCap indices were tanked around 2%.
In opening trades Sensex was trading at 61,779 higher by 63 points or 0.10%. While the Nifty 50 rose 21 points or 0.11% to 18,439.
The broader markets clearly witnessed profit booking in several top-performing Midcap names during the day.