Sensex rallies 500pts; HDFC surges 9%

The Sensex has opened with a positive gap of 232 points at 11,635 after an extended weekend holidays. The makets were last open for trading on Wednesday following which Thursday and Friday the markets were closed on account of elections in Mumbai and Maharashtra Day, respectively.

However, during those days, the US markets and the Asian markets rallied smartly which is reflected in today's opening. Asian markets are up 2-6% this morning.

The Sensex is now at 11,922, up 520 points.

HDFC has rallied 9% to Rs 1,885. ICICI Bank, Mahindra & Mahindra and TCS have advanced over 7.5% each to Rs 514, Rs 523 and Rs 670, respectively.
 
Tata Steel is up over 7% at Rs 255. HDFC Bank and Sterlite have added over 6.5% each to Rs 1,173 and Rs 436, respectively.
 
Reliance Communications has gained 5% to Rs 226. Wipro, Larsen & Toubro, ONGC and SBI have surged 4.5% each to Rs 346, Rs 921, Rs 905 and Rs 1,335, respectively.