Sensex up 60pts; SBI rises 3.5%

After opening with a positive gap of 57 points the index touched a high of 11,635. The index is now up 60 points at 11,592.

SBI rallied to high of Rs 909 on back of the news that the Cabinet has allowed RBI to lower its stake in the bank. Further, the bank has also been powered to issue bonus shares or go for a stock split. The stock is now up 3.5% at Rs 905.

Tata Steel, ONGC, Hero Honda, Larsen & Toubro and HDFC have advanced over 1% each to Rs 524, Rs 1,203, Rs 721, Rs 2,382 and Rs 1,292, respectively.

HDFC Bank is the sole loser among the index stocks, down 0.7% at Rs 848.