Bulls are in charge of Dalal Street as Nifty crossed the 13,000 mark for the first time ever. Sensex is up 306.82 points or 0.7 percent at 44383.97, and the Nifty gained 92.40 points or 0.71 percent at 13018.90.

                                  

The rally in the market has been largely aided by banking names. Bank Nifty was up 2 percent intraday led by gains from RBL Bank which jumped 5 percent followed by Axis Bank and HDFC Bank which gained 2 percent each.

HDFC Bank's share price hit new record high after CLSA maintained buy on the stock. The global research firm has retained buy on the stock and has raised target from Rs 1525 to Rs 1700 per share. The research firm is of the view that macro environment has improved materially post lockdown adding that better use of data analytics is leading to lower retail stress against PAT cycles.

Axis Bank share price gained after Jefferies retained buy on the stock. The global research firm has maintained buy call on the stock and has raised target to Rs 700 from Rs 610 per share. It is of the view that the overall trend has improved with festive season being better than expectations.