Extending its gains for the second session, market benchmark Sensex rose 227 points on Friday, tracking rally in banking stocks amid recovery in global equities.

After opening on a weak note, the 30-share BSE index settled 226.79 points, or 0.55 per cent, higher at 41,613.19 — hitting an intra-day high of 41,697.03 and a low of 41,275.60.

Ultratech Cement was the top gainer in the Sensex pack, advancing 2.44 per cent, followed by Tech Mahindra, Axis Bank, Titan, Kotak Bank, ICICI Bank and Bajaj Finance.

On the other hand, PowerGrid, IndusInd Bank, Sun Pharma, TCS, RIL and Infosys, Maruti and HDFC Bank ended in the red.According to traders, a rally in financial stocks ahead of the Union Budget is supporting domestic stocks.

Further, recovery in global markets after the World Health Organisation designated coronavirus infection an emergency for China, but not yet for the rest of the world, also buoyed benchmarks.