The Sensex is now up 231 points at 14,729.
ONGC has soared over 5% to Rs 1,083.
Jaiprakash Associates has surged 4.4% to Rs 170, and ICICI Bank has rallied nearly 4% to Rs 691.
SBI has gained 3.6% at Rs 1,467. Reliance Infrastructure, Larsen & Toubro and Tata Power have advanced around 2.5% each to Rs 1,009, Rs 2,627 and Rs 1,063, respectively.
Hindustan Unilever has added 2% to Rs 247. ACC and TCS have moved up 1.8% each to Rs 574 and Rs 829, respectively.
Ranbaxy has tumbled 7% to Rs 465. Tata Motors has shed 1.5% at Rs 431.