Chemical Banking Corp. and Citicorp led the way as most bank stocks posted strong gains in Thursday's market.

Citicorp was ahead $1.75 to $35.375 in late trading, an advance of 5.2%.

Chemical was up, also 5.2%, to $43.125.

Other big gainers were First Union Corp., up $2 to $47.75; First Interstate Bancorp, up $2.125 to $64.375; and Mellon Bank Corp., up $2 to $58.975. Wells Fargo & Co. was up $3.625 to $119.50.

Also moving sharply were First Chicago Corp., up $1.625 to $47.25; Bankers Trust New York Corp., up $1.625 to $81.875; and J.P. Morgan & Co., up $1.75 to $77.625.

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