A benchmark index for Indian equities broadened its gains in afternoon trade today, surging 1.1% from its last closure.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) stood at 16,850.01 after gaining 183.61 points (1.1%) from its previous close at 16,666.4.

At the National Stock Exchange (NSE), the broader 50-share S and P CNX Nifty was trading 1.16% up at 5,061.1 from its previous close at 5,003.1 points.

Broader markets also witnessed good buying action, with the BSE midcap index trading 1.62% up and the BSE smallcap index 1.44% higher.

European markets also started off well, with key indices trading more than 0.5%.

Britain's key index the FTSE 100 gained 0.69% to trade at 5,231.12 points and its French peer the CAC 40 was up 0.64% at 3,548.01 points.

The German DAX too was trading in the positive at 5,975.49 points, up 0.65%. (With Inputs from Agencies)