Sensex gains 500pts; breadth -ve

The Sensex has extended gains, and is now up 492 points at 10,467.

Wipro and TCS have zoomed nearly 10% each to Rs 283 and Rs 497, respectively.

Sterlite has soared 8% to Rs 294. Infosys and Reliance Communications have surged 7.5% each to Rs 1,293 and Rs 251, respectively.

HDFC Bank, ICICI Bank and Satyam have rallied over 6.5% each to Rs 1,092, Rs 417 and Rs 283, respectively.

Hindalco has moved up over 6% to Rs 68. Tata Steel, ITC, ONGC and Reliance Infrastructure have advanced around 5% each to Rs 261, Rs 167, Rs 815 and Rs 515, respectively.

Jaiprakash Associates and Bharti Airtel are up 4.5% each at Rs 70 and Rs 708, respectively.

Grasim has shed 5.5% at Rs 1,222. Mahindra & Mahindra is down 1.4% at Rs 435.

The market breadth is negative - out of 2,352 stocks traded so far, 1,294 have declined, 990 have advanced and the rest are unchanged.