Sensex up 46pts; HDFC Bank rallies 3%

The Sensex is now up 46 points at 11,597.

Brokers are saying that the markets may take a sharp dip towards the close due to margin calls, if their clients are not able to meet their yesterday's obligations.

HDFC Bank has rallied 3% to Rs 846. TCS has surged 2.4% to Rs 978, and Hero Honda has advanced over 2% to Rs 761.

SBI and ICICI Bank have advanced 1.5% each to Rs 932 and Rs 605, respectively.

Reliance, Infosys and Satyam are up over 1% each.

Hindalco has dropped 4% to Rs 168. ONGC and BHEL have slipped nearly 2% each to Rs 1,156 and Rs 2,214, respectively.

HLL has shed 1.3% to Rs 227. ITC is down over 1% at Rs 180.

Out of 2,369 stocks traded so far, 1,553 have declined, 757 have advanced and the rest are unchanged.