Mumbai, Jan 31 - A benchmark index for Indian equities Tuesday rose smartly in morning trade and regained the 17,000 level with banking and realty stocks leading gainers.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,965.58 points, was ruling at 17,042.46 points about 30 minutes into trade, 179.16 points or 1.06 percent up from its previous close at 16,863.3 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading in the green at 5,145.3 points, up 58 points or 1.14 percent from its previous close.

Broader markets were ruling higher as well with the BSE 500 index trading 1.02 percent up from its previous close. (IANS)