Sensex up 110pts; bank stocks rally

The Sensex is now up 110 points at 12,284.

The BSE Bankex has advanced 1.3% to 5760.

HDFC and SBI have rallied 2.5% each to Rs 1,425 and Rs 994, respectively.

HLL and TCS have surged around 2% each to Rs 258 and Rs 1,045, respectively.

Wipro, BHEL, ICICI Bank, Bajaj Auto and Maruit have advanced around 1.5% each to Rs 523, Rs 2,361, Rs 670, Rs 2,908 and Rs 940, respectively.

Reliance, HDFC Bank, Tata Steel, Tata Motors and Satyam are up over 1% each.