Sensex up 62pts; market breadth very +ve

The Sensex is now up 62  points at 11,594.

SBI has surged nearly 4% to Rs 907 following Cabinet's nod for RBI allowing it to lower its stake in the bank. Further, the bank has also been powered to issue bonus shares or go for a stock split.

Reliance Energy and Tata Steel have gained nearly 2% at Rs 465 and Rs 526, respectively.

ONGC and Hero Honda have added 1.5% each to Rs 1,207 and Rs 724, respectively.

Hindalco, ICICI Bank and Larsen & Toubro are up over 1% each at Rs 170, Rs 596 and Rs 2,381, respectively.

HDFC Bank has slipped nearly 1% to Rs 847.

The market breadth is extremely positive - out of 1,743 stocks traded so far, 1,292 have advanced, 399 have declined and the rest are unchanged.