Mumbai, Feb 5 (IANS): A benchmark index of Indian equities markets Thursday surged 366.97 points or 1.27 percent up as IT stocks gained.

Good buying was observed in IT, banking and technology, media and entertainments sectors.

Selling pressure was seen in consumer durables sector.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 28,912.38 points, was trading at 29,250.08 points (at 02.05 p.m.) in the afternoon session, up 366.97 points or 1.27 percent from the previous day's close at 28,883.11 points.

The Sensex has touched a high of 29,266.63 points and a low of 28,824.88 points in the trade so far.

The S&P IT index surged by 326.65 points, bankex gained by 297.57 points and TECK index moved up by 141.99 points. However, consumer durables index dropped by 102.77 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also was trading 107.45 points or 1.23 percent up at 8,831.15 points.