Mumbai, July 22 - A key index of the Indian equities markets rallied around Wednesday noon, rising more than 240 points from its last closing figure.

Around 11.50 a.m., the 30-scrip benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened higher at 15,124.92 points, was at 15,295.38 points -- 240.93 points or 1.6 percent higher than Tuesday's closing figure.

The S&P CNX Nifty of the National Stock Exchange (NSE) too was ruling in the green, 1.56 percent up at 4,538.95 points.

Broader market indices were doing a tad better with the BSE midcap index trading 1.48 percent higher and the BSE smallcap index moving up 1.79 percent.

All of the 13 sectoral indices on the BSE were ruling in the positive terrain, with those for realty, banking and consumer durables stocks gaining the most.