The Sensex is now at 14,637, up 353 points.
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Updated at 1319 Hrs
The Sensex has gained smartly to a high of 14,904, up 620 points. It is now up 600 points at 14,884.
Reliance Communications and Larsen & toubro have skyrocketed over 16% each to Rs 334 and Rs 1,442, respectively. DLF has zoomed 14.5% to Rs 369.
SBI has soared 13.5% to Rs 1,790. ICICI Bank has surged 12% to Rs 789. Mahindra & Mahindra, Sterlite and Reliance Infrastructure have rallied 10% each to Rs 634, Rs 587 and Rs 1,098, respectively.
Maruti Suzuki, Tata Steel, Grasim, BHEL, ONGC, ACC, Tata Motors, HDFC, HDFC Bank, Hindalco and Tata Power have advanced 2-8% each.
However, IT stocks have declined on the BSE.
Infosys has plunged 10% to Rs 1,589. Wipro has slumped 7% to Rs 396. ITC has dropped 6% at Rs 190. TCS and Hindustan Unilever have slipped 4% each. Reliance, Ranbaxy, Sun Pharma, NTPC and Bharti Airtel have also declined.
The market breadth is fairly positive. Out of 2,580 stocks traded, 1,882 stocks have advanced while 648 have declined.