Markets rally smartly; Sensex up 2.6%

The markets have made a strong recovery since the morning. The Sensex is now trading at 12,922, up 327 points.

The Nifty is trading at 3934 points, up 84 points.

Satyam is the top Sensex gainer, up 7.6% to Rs 315, TCS has advanced 7.3% to Rs 665, while ICICI Bank is up 6.4% to Rs 525. HDFC is up 5.4%. SBI, Bhel, RCom and M&M are all up 4% each. 

Tata Steel is now down 3.6% to Rs 429. Tata Motors has declined 2.7% to Rs 346. Grasim, Hindustan Unilever, Ranbaxy and ITC  are trading 0.5%-1% lower each.