Sensex up 108pts; TCS drops 4%

The Sensex is now up 108 points at 16,741.

The NSE Nifty is up 28 points at 4,885.

Reliance has surged 3% to Rs 2,345. ICICI Bank has rallied 2.5% to Rs 1,062.

Ranbaxy and Cipla have advanced over 1% each to Rs 370 and Rs 189, respectively.

Wipro and Bharti Airtel are also up 1% each at Rs 428 and Rs 857, respectively.

TCS has slumped 3.7% to Rs 870. ACC has shed 2.7% at Rs 718.

Reliance Communications and Mahindra & Mahindra have slipped 2.3% each to Rs 577 and Rs 583, respectively.

Bajaj Auto has dropped 1.3% to Rs 2,089.

Out of 2,677 stocks traded so far, 2,200 have declined, 441 have advanced and 36 are unchanged.