Sensex up 270pts; Infosys gains 5%

The Sensex is now up 270 points at 16,514.

The NSE Nifty is up 80 points at 4,967.

Infosys has soared 4.8% to Rs 1,677. Wipro and DLF have surged 3.7% each to Rs 464 and Rs 645, respectively.

Hindalco has gained 3.5% at Rs 183. ICICI Bank and HDFC Bank have rallied around 3% each to Rs 842 and Rs 1,344, respectively.

Tata Steel and Satyam have moved up over 2.5% each to Rs 709 and Rs 466, respectively.

HDFC and TCS have advanced 2.3% each to Rs 2,440 and Rs 996, respectively.

Reliance Communications and SBI are up nearly 2% each at Rs 536 and Rs 1,696, respectively.

The market breadth is extremely positive - out of 2,545 stocks traded so far, 1,939 have advanced, 555 have declined and 51 are unchanged.