Sensex up 88pts; Hindalco surges 3%

The Sensex is now up 88 points at 12,668.

Hindalco has surged 2.7% to Rs 130. Dr.Reddy's has rallied 2% to Rs 648.

ICICI Bank, Wipro and ONGC have advanced around 1.5% each to Rs 840, Rs 565 and Rs 776, respectively.

TCS, Gujarat Ambuja, Ranbaxy and HDFC are up over 1% each at Rs 1,208, Rs 105, Rs 313 and Rs 925, respectively.

ACC has slumped 3.5% to Rs 786. Grasim and Tata Steel has shed 2.5% each to Rs 2,052 and Rs 403, respectively.

Maruti has slipped nearly 2% to Rs 763. Cipla and Hero Honda are down over 1% each to Rs 230 and Rs 660, respectively.

The market breadth is negative - out of 2,008 stocks traded so far, 1,417 have declined, 545 have advanced and 46 are unchanged.