Sensex up 47pts, Rel Energy gains 3%

The Sensex is now up 47 points at 7,319, while the Nifty is steady at 2,229 - up 16 points.

TCS at Rs 1,334 (up Rs 85 or 6.84%), Infosys at Rs 2,254 (up Rs 59 or 2.68%), Satyam at Rs 497 (up Rs 16 or 3.25%) and Wipro at Rs 712 (up Rs 8 or 1.16%) are still leading the Sensex rally.

Reliance Energy has advanced 3.17% (Rs 20) to Rs 653, while HLL has gained 2.15% (Rs 3) to Rs 159.

Hero Honda is now up 1.25% (Rs 8) at Rs 636. Bajaj is still up a per cent (Rs 11) at Rs 1,394.

Ranbaxy is up a per cent (Rs 8) at Rs 1,044. Dr. Reddy's and Cipla are trading with modest gains at Rs 751 and Rs 333, respectively.

ITC is trading in a narrow range with a negative bias, and is now down 1.72% (Rs 30) at Rs 1,738. ONGC is trading at its earlier lows at Rs 914 - down Rs 12 or 1.32%. Reliance Industries is down a per cent (Rs 7) at Rs 659.

ICICI Bank is still up a per cent (Rs 4) at Rs 445. HDFC Bank (down Rs 4 to Rs 626) is displaying a subdued trend.

L&T is up 2.27% (Rs 29) at Rs 1,286.

Reliance Capital is leading the value pack with a turnover of Rs 89 crore on the BSE, followed by Nectar Life (Rs 62 crore), Reliance Industries (Rs 54 crore) and Infosys (Rs 52 crore), respectively.