Sensex up 85pts; ONGC slips 2%

The Sensex is now up 85 points at 18,598.

Hindalco has soared 3% to Rs 195.

Tata Steel has rallied over 2% to Rs 935. SBI and BHEL have surged 1.8% each to Rs 1,944 and Rs 2,315, respectively.

ACC has gained 1.3% at Rs 1,092. Reliance Energy and ICICI Bank are up over 1% each at Rs 1,672 and Rs 1,109,  respectively.

ONGC has shed 2.3% to Rs 1,082. Dr.Reddy's and HDFC Bank have slipped over 2% each to Rs 616 and Rs 1,475, respectively.

Cipla has dropped 1.5% to Rs 194. Wipro, HDFC and ITC are down around 1% each at Rs 480, Rs 2,513 and Rs 183, respectively.