Sensex up 200 points, Nifty hovers around 9,350; banking stocks lead

The benchmark indices continued to trade higher in afternoon deals thanks to gains in banking stocks after the Cabinet on Wednesday approved a new policy to deal with non-performing assets (NPAs). 

At 1:37 pm, the S&P BSE Sensex was trading at 30,109, up 215 points, while the broader Nifty50 was ruling at 9,348, up 36 points.

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3% and 0.2%, respectively.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,415 shares rose and 1,206 shares declined. A total