Sensex up 427pts, JP Associates up 7%

The Sensex is now up 427 points at 15,260.

The NSE Nifty is up 109 points at 4,642.

Jaiprakash (JP) Associates has soared 7% to Rs 215. Wipro has surged 6.5% to Rs 383, and HDFC Bank has zoomed over 5% to Rs 1,296.

Mahindra & Mahindra, Satyam and HDFC have rallied 4.8% each to Rs 667, Rs 388 and Rs 2,304, respectively.

Bharti Airtel, Tata Motors and Larsen & Toubro have gained 4% each at Rs 789, Rs 644 and Rs 2,874, respectively.

ICICI Bank has moved up 3.8% to Rs 797. ACC, SBI and Reliance Communications are up 2.7% each at Rs 780, Rs 1,636 and Rs 510, respectively.

The market breadth has turned negative - out of 2,573 stocks traded so far, 1,304 have declined, 1,202 have declined and 67 are unchanged.