Markets extend gains, Nifty hits 8,950; RIL rallies 8%

Axis Bank, Grasim, Ultratech Cements and Kotak Mahindra Bank were the top gainers on Nifty

Benchmark indices extended gains with Nifty50 reclaiming 8,950 level amid lack of domestic cues as it readies for expiry of futures and options for the February series. 
 
Sentiment was slightly affected by San Francisco Federal Reserve Bank President John Williams’ warning that the global drop in interest rates since the financial crisis is likely to persist and will make it harder for central banks to keep world economies healthy.
 
At 12:07 pm, the S&P BSE Sensex was trading at 28,906, up 144 points, while the broader Nifty50 was ruling at 8,947, up 39 points.
 
In the broader