Mumbai, Feb 28 (IANS): A benchmark index for Indian markets Tuesday shot up as traders picked up scrips which were battered in the previous session. Realty, banking and consumer durable stocks were among the major gainers.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,545.11 points, was ruling at 17,718.99 points around noon, 273.24 points or 1.57 percent up from its previous close at 17,445.75 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading higher at 5,370.85 points, up 89.65 points or 1.7 percent from its previous close.

Broader markets were also in the green, with the BSE 500 index trading 2.55 percent higher. The BSE midcap index was up 2.55 percent while the BSE smallcap index was ruling 2.28 percent higher.

Among the sectoral indices on the BSE, those battered Monday rose. Realty, banking, consumer durables and metal were among major gainers. IT scrips, however, saw some selling.

Prominent gainers on the 30-scrip Sensex included ICICI Bank, SBI, RIL and Tata Motors. TCS, ITC and Infosys were among the losers.

The market breadth was positive, with 1,906 stocks advancing, 609 on the decline and 109 unchanged.

Asian markets saw some gains as oil prices showed some signs of softening, with Brent crude falling to below $124 a barrel.

The Japanese Nikkei moved up 0.92 percent to end at 9,722.52 points, while Hong Kong's Hang Seng was ruling 1.11 percent higher at 21,452.51 points.

The Chinese Shanghai Composite index was ruling dull at 2,445.17 points.