Sensex up 255pts; Bajaj Auto slips 3%

The Sensex is now up 255 points at 16,863.

The NSE Nifty has moved up 71 points to 4,910.

Tata Steel has zoomed 5.3% to Rs 749. HDFC Bank has soared nearly 5% to Rs 1,466.

ITC has surged 4% to Rs 192. BHEL and Reliance have gained 3.6% each at Rs 1,947 and Rs 2,408, respectively.

HDFC and SBI have rallied 3.3% each to Rs 2,710 and Rs 2,125, respectively. ACC has added 3% to Rs 740.

Tata Motors has moved up 2.6% to Rs 711, and Ambuja Cements has advanced 2.3% to Rs 116.

Bajaj Auto has tumbled nearly 3% to Rs 2,013. Wipro and Cipla have dropped over 2% each to Rs 412 and Rs 182, respectively.

Reliance Communications has shed 1.7% at Rs 566. Infosys is down 1% at Rs 1,529.

The market breadth is fairly negative - out of 2,659 stocks traded so far, 1,891 have declined, 727 have advanced and 41 are unchanged.