Midday Report- Sensex up 300 points, Nifty above 24,623

The benchmark indices continued to trade higher on August 13, as buying was seen among index heavyweights and tracking gains in global equities. At 12.56 pm Sensex rose by 0.37% or 302 points to 80,540. The Nifty gained 0.55% or 133 points to 24,623.

Global Update-

Asian markets were higher, tracking gains on Wall Street after the latest US inflation data raised expectations that the Federal Reserve could cut interest rates next month.

European stocks poised to extend gains after Wall Street's record highs.