The Sensex has surged and touched a high of 16,897. The index has, however, started slipping now and is up 109 points at 16,850.
The Nifty is up 37 points at 5,014.
Hero Honda has gained 3.3% at Rs 1,735. Mahindra & Mahindra has added 2.3% to Rs 905.
Maruti Suzuki, Tata Motors and Tata Power have advanced 2% each to Rs 1,676, Rs 611 and Rs 1,339, respectively.
HDFC, Infosys, TCS, Hindustan Unilever, BHEL, Larsen & Tourbo, SBI and Wipro have moved up 1% each.
However, Bharti Airtel has slipped 2% to Rs 434. Sterlite and Jaiprakash Associates have dropped 1.5% each.
Reliance Communications has declined over 1% to Rs 303.
The market breadth is fairly positive - out of 2,321 stocks traded 1,491 have advanced while 749 have declined.
