Sensex up 314pts; Tata Steel, ITC surge

The Sensex is now up 314 points at 16,922.

The NSE Nifty is up 84 points to 4,922.

Tata Steel has zoomed over 6% to Rs 754. ITC and HDFC Bank have soared nearly 5% each to Rs 194 and Rs 1,465, respectively.

BHEL has surged 4.3% to Rs 1,960. HDFC has rallied 3.5% to Rs 2,716.

DLF, ACC and ICICI Bank have moved up 2.8% each to Rs 815, Rs 738 and Rs 1,093, respectively.

SBI has advanced 2.5% to Rs 2,110. Tata Motors, Ambuja Cements and Reliance are up over 2% each at Rs 708, Rs 115 and Rs 2,371, respectively.

Reliance Communications and Cipla have tumbled nearly 4% each to Rs 553 and Rs 179, respectively.

Wipro has shed 3.3% at Rs 408. Bajaj Auto has slipped 2.8% to Rs 2,014, and Hindalco has dropped 2% to Rs 149.

Out of 2,726 stocks traded so far, 2,051 have declined, 641 have advanced and 34 are unchanged.