Sensex up 121pts; ONGC slips 1%

The Sensex is now up 121 points at 14,417.

ACC has surged 2.3% to Rs 863. Gujarat Ambuja and Tata Motors have rallied 2% each to Rs 115 and Rs 677, respectively.

Hindalco has soared 1.8% to Rs 165. Reliance Communications and Maruti have advanced 1.5% each to Rs 511 and Rs 762, respectively.

ICICI Bank, Satyam, Bharti Airtel and Bajaj Auto are the other major gainers.

ONGC has slipped 1% to Rs 906.