<b>Fed Effect:</b> Sensex soars 1,203pts

The Sensex is now up 1,203 points at 17,933.

The NSE Nifty is up 394 points at 5,294.

An emergency 75 basis points rate cut by the US Federal Reserve has triggered the buying today.

NTPC has zoomed over 15% to Rs 226. Reliance Energy and BHEL have soared around 14.5% each to Rs 1,966 and Rs 2,270, respectively.

Satyam, Reliance Communications and Bajaj Auto have surged over 11.5% each to Rs 396, Rs 642 and Rs 2,300, respectively.

HDFC Bank and DLF have rallied 11% each to Rs 1,599 and Rs 963, respectively.

Hindalco and ACC have advanced around 9% each to Rs 164 and Rs 787, respectively. ICICI Bank has added 8.5% to Rs 1,220.

Reliance and Mahindra & Mahindra are up around 8% each at Rs 2,544 and Rs 661, respectively. Tata Steel has moved up 7.7% to Rs 722.

SBI, HDFC and Cipla have gained 7% each at Rs 2,317, Rs 2,655 and Rs 189, respectively.

Out of 2,581 stocks traded, 1,282 have declined, 1,269 have advanced and 30 are unchanged.