Key Benchmark indices traded the day higher, even as Asian markets were trading mixed and Covid-19 cases in the country continuing to decrease, in view of the lockdowns across the country.

At 11.25 am, the BSE Sensex stood at 49219 mark up by 487 points while the NSE Nifty gained 135 points at 14813-level

UPL  State Bank of India, Indusind Bank, Bajaj Finsv and ICICI Bank were among major gainers on the nifty, while Cipla, L&T, Bharti Airtel, SBI life Insurance and Coal India were losers.

Cipla share price was trading lower by 3 percent at open on May 17 after the company declared its Q4 results.

Shares in, L&T gained after the company reported higher consolidated profit at Rs 3,293 crore for the quarter ending March 31, 2021, against Rs 3,197 crore in Q4FY20. Brokerage firm Motilal Oswal has a buy on the stock with a target price of Rs 1,700

Asian markets reacted to a slew of Chinese economic data, including China's industrial output which rose 9.8% year-on-year in April, in line with expectations. Chinese markets were trading higher, while stocks in Japan fell and Korea dropped.

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