Sensex up 242pts; REL, Bajaj Auto down 3%

The Sensex is now up 242 points at 16,582.

The NSE Nifty is up 66 points at 4,930.

Satyam has zoomed 6.5% to Rs 433. Infosys has surged 5% to Rs 1,490. Wipro has rallied nearly 3% to Rs 429, and TCS has added 2.7% to Rs 876.

ITC has soared over 5% to Rs 194, and HDFC has rallied 4.4% to Rs 2,753.

Maruti and Hindalco have surged 3.8% each to Rs 940 and Rs 207, respectively.

ONGC and Tata Steel have moved up 2.8% each to Rs 985 and Rs 799, respectively.

NTPC and Reliance Communications have advanced 2.5% each to Rs 195 and Rs 528, respectively. Reliance has gained 2.3% at Rs 2,292.

Reliance Energy (REL) and Bajaj Auto have dropped 3% each to Rs 1,456 and Rs 2,133, respectively.

Bharti Airtel has slipped over 2% to Rs 752. HDFC Bank and Hindustan Unilever have shed 1.7% each at Rs 1,333 and Rs 225, respectively.

SBI and Mahindra & Mahindra are down 1.3% each at Rs 1,848 and Rs 696, respectively.

Out of 2,730 stocks traded so far, 2,007 have declined, 672 have advanced and 51 are unchanged.