The Sensex opened with a positive gap of 110 points at 14,609, and is now up 148 points at 14,646.
SBI has surged nearly 3% to Rs 1,456.
ICICI Bank, Jaiprakash Associates, HDFC and HDFC Bank have rallied around 2% each to Rs 679, Rs 166, Rs 2,382 and Rs 1,321, respectively.
ONGC, Reliance Infrastructure and Tata Power have gained 1.7% each at Rs 1,048, Rs 1,000 and Rs 1,056, respectively.
ACC, Reliance Communications and Larsen & Toubro are up around 1.5% each at Rs 572, Rs 395 and Rs 2,598, respectively.
Ranbaxy, however, has plunged 6% to Rs 470.
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