The Sensex and Nifty extended gains for the second day amid Asian markets recovering from two-month lows. While the Sensex was trading 144 points higher at 34,446, the Nifty rose 52 points to 10,598 level. Midcaps and small cap indices led the recovery rising 100 points and 125 points, respectively. Among BSE sectoral indices, IT stocks led the gains with BSE IT index rising 206 points to 12,296 level. Banking stocks which fell during the last few sessions also saw gains with the bankex rising 160 points to 28,891 level.