Sensex up 58pts; Bharti, Ranbaxy surge 3%

The Sensex is now up 58 points at 16,904.

Ranbaxy and Bharti Airtel have soared 2.7% each to Rs 428 and Rs 970, respectively.

Cipla and Reliance Energy have surged 1.8% each to Rs 171 and Rs 1,113, respectively.

Tata Steel and ACC have advanced 1.5% each to Rs 760 and Rs 1,156, respectively.

Bajaj Auto has slipped 1.6% to Rs 2,532, and Hindustan Unilever has declined 1.4% to Rs 221. ITC is down 1% at Rs 186.

The market breadth is negative - out of 2,556 stocks traded so far, 1,367 have declined, 1,121 have advanced and 68 are unchanged.