Sensex up 90pts; Tata Steel surges 3%

The Sensex is now up 90 points at 12,814.

Tata Steel has surged 3% to Rs 517 after reports that Corus has accepted Tatas $7.6 bn takeover bid.

Wipro has advanced nearly 2% to Rs 560. Reliance Energy, Reliance and BHEL have gained around 1.5% each to Rs 460, Rs 1,214 and Rs 2,452, respectively.

Bharti Airtel has moved up 1.4% to Rs 498. Ranbaxy, Tata Motors, Gujarat Ambuja and HDFC are the other major gainers.

Satyam is down nearly 1% at Rs 437.

Out of 2,240 stocks traded so far, 1,474 have advanced, 697 have declined and the rest are unchanged.