The Sensex has surged to its day's high at 14,028, up 141 points. The index is now 107 points higher at 13,994.
The BSE Realty and the Auto indices lead the rally so far. The Realty index is up around 3% at 3,403 and the Auto index has advanced 2% at 4,463.
Ranbaxy has zoomed over 16% to Rs 257.
DLF and Jaiprakash Associates have advanced 5% each to Rs 351 and Rs 182, respectively.
Tata Power has added over 4% at Rs 1,090.
Sterlite, Reliance Communications and Mahindra & Mahindra are up over 3.5% each at Rs 527, Rs 327 and Rs 652, respectively.
ONGC has on the other hand, slipped over 2% to Rs 1,021.
The market breadth is fairly positive, out of 2,529 shares traded, 2,232 hace advanced and 263 have declined so far on the BSE.