Sensex up 507pts; ONGC, Rel Energy soar 5%

The Sensex is now up 507 points at 17,836.

The markets continued to rally for the 11th straight session on the back of strong global cues and unabated buying by the FIIs. The FIIs have pumped in nearly Rs 15,000 crore in the last eight trading days.

The index has gained a whopping 15% in the last straight 11 trading session.

NTPC has zoomed nearly 7% to Rs 220. Reliance Communications has soared 6% to Rs 649.

ONGC and Reliance Energy have surged 5% each to Rs 1,047 and Rs 1,416, respectively.

Mahindra & Mahindra has rallied nearly 4% to Rs 788, and Reliance has gained 3.5% at Rs 2,370.

Infosys has moved up 3% to Rs 1,950. Satyam, TCS and Grasim are up around 2.5% each at Rs 454, Rs 1,064 and Rs 3,685, respectively.

Out of 2,584 stocks traded so far, 1,682 have advanced, 845 have declined and 57 are unchanged.