Mumbai, Sep 7 (IANS): A benchmark index for the Indian equities markets soared past 17,000-point mark Wednesday and was trading with gain of over one percent in the afternoon session, on the back of positive cues from Asian peers.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,922.31 points, was trading at 17,059.77 points around 12 noon, up 1.17 percent or 196.96 points from the previous close at 16,862.81 points.

At the National Stock Exchange, the 50-scrip S&P CNX Nifty was trading above 5,100 points mark. The Nifty was ruling 1.16 percent or 58.50 points higher at 5,122.80 points.

Broader markets as well as most sectoral indices were also trading with decent gains.

The BSE midcap index was ruling 1.24 percent higher and the BSE small cap index was trading 1.43 percent higher in the afternoon session.

Most Asian markets rebounded Wednesday after three-day of slump, with Japan's Nikkei gaining over 2 percent.