Nifty hovers above 24,700 level; SBI Life rallies 3.83%

At 13:30 IST, the barometer index, the S&P BSE Sensex, jumped 482.52 points or 0.52% to 80,842.21. The Nifty 50 index gained 135.05 points or 0.55% to 24,707.70.