The sharp rally in Indian equity markets has seen the BSE Fast Moving Consumer Goods (FMCG), banking (BANKEX) and the auto index touch their respective 31-month highs today. This is the largest single-day gain for these indices in last three months.
 
In broader markets, the BSE benchmark index Sensex is trading 2% higher or 343 points at 18,564 in late noon deals, while the S&P CNX Nifty has surged 109 points to 5,588.
 
Robust auto sales numbers for the month of August 2010 has propelled most of the auto and auto ancillaries stocks with Bajaj Auto, Apollo Tyres, MRF, Ashok Leyland and Exide Industries trading at new highs.
 
Axis Bank, Allahabad Bank, Canara Bank, Uco Bank, Indian Bank and Karur Vysya Bank are among the banking stocks trading high on hopes of growth in credit off-take ahead of the festival season. ITC, Tata Global Beverages and Godrej Consumer Products in the FMCG pack firmed up on the back of a good monsoon season.