Sensex up 120pts; breadth fairly +ve

The Sensex is now up 120 points, at 14,784.

SBI and Cipla have soared 2.8% each to Rs 1,574 and Rs 216, respectively.

Larsen & Toubro, ICICI Bank and Grasim rallied nearly 2% each to Rs 2,280, Rs 968 and Rs 2,666, respectively.

Hindustan Unilever has gained 1.5% at Rs 192. Reliance Communications, ITC, Maruti andBHEL have moved up over 1% each to Rs 536, Rs 156, Rs 780 and Rs 1,550, respectively.

HDFC has dropped 1.5% to Rs 2,000.

The market breadth is positive - out of 2,428 stocks traded so far, 1,396 have advanced, 950 have declined and 82 are unchanged.