Sensex ends up 196 pts

The Sensex ended (provisional) at 17,771- up 196 points. Nifty ended up 65 points at 5,334.
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(Updated at 1512 hrs)

Markets have smartly gained almost 200 points on European cues.

The Sensex had opened flat and jumped in early trades, mirroring cues from Asian markets. However, towards noon, the index dropped on profit taking and as US futures declined.

With a jump in European markets, the Sensex once again, started gained and touched a high of 17,779. The index is now up 188 points at 17,762.

The Nifty is now up 62 points at 5,332.

Reliance Communication continues to be the winner today and is up 4.6% at Rs 202. Reliance Infrastructure has gained 3.7% to Rs 1,211.

ONGC has jumped 3.3% to Rs 1,305. Reliance has added 2.3% to Rs 1,087.

Tata Steel, DLF, Jaiprakahs Associates, Larsen & Toubro, Tata Motors, Hindalco and ICICI bank are the other major gainers.

Meanwhile, ITC is down 1.4% at Rs 298. Jindal Steel has shed 1% at Rs 637.