Sensex up 242pts; Rel Power crosses IPO price

The Sensex has rallied 242 points at 17,591.

The NSE Nifty has gained 77 points at 5,188.

Reliance Power has surged 8.5% to Rs 452 - and is now trading above the issue price of Rs 450 - on the back of a 3:5 bonus issue announced by the company on Sunday.

Maruti has rallied 4% to Rs 798. Reliance and Ranbaxy have surged 3.5% each to Rs 2,516 and Rs 424, respectively.

Wipro has soared over 3% to Rs 436. Ambuja Cements and Reliance Energy have moved up 2.7% each to Rs 121 and Rs 1,598, respectively.

ACC has gained 2.5% at Rs 793. NTPC and Satyam have advanced nearly 2% each to Rs 202 and Rs 447, respectively.

ITC and Infosys are up 1.7% each at Rs 204 and Rs 1,606, respectively.

HDFC Bank and Bajaj Auto have plunged 4% each to Rs 1,415 and Rs 2,203, respectively.

Mahindra & Mahindra has shed 1.4% at Rs 620.

Out of 2,692 stocks traded so far, 1,692 have declined, 937 have advanced and 63 are unchanged.