Mumbai, Jan 2 (IANS): A benchmark index of Indian equities markets Friday surged 366.03 points or 1.33 percent as banking stocks gained.

All the sectors were trading in green and the rally was led by banking, capital goods, auto, consumer durables, metal and IT sectors.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,521.28 points, was trading at 27,873.57 points (at 01.03 p.m.) in the afternoon session, up 366.03 points or 1.33 percent from the previous day's close at 27,507.54 points.

The Sensex has touched a high of 27,897.05 points and a low of 27,519.26 points in the trade so far.

The S&P bankex surged by 365.66 points, capital goods index moved up by 246.03 points, auto index went up by 156.96 points, consumer durables index increased by 127.30 points, metal index inched up by 118.86 points and IT index got augmented by 99 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 109.90 points or 1.33 percent up at 8,393.90 points.