Sensex heading for a firm close, up 272pts

The Sensex after moving sideways for most part of the trading day, rallied to a high of 12,220 - up 347 points. The index is now up 272 points at 12,145.

ICICI Bank and Ranbaxy have surged 6.5% each to Rs 573 and Rs 196, respectively. Bharti Airtel has gained 5% at Rs 804.

Grasim, Larsen & Toubro, TCS and DLF have rallied 4% each. HDFC has advanced 3.5% to Rs 1,933.

Reliance Communications, Jaiprakash Associates, SBI and Tata Power have moved up 3% each. ACC, Tata Motors, BHEL, Sterlite, Tata Steel, Wipro, Infosys and Reliance are the other major gainers.

However, ONGC continues to be down 2% at Rs 814. NTPC has declined 1% to Rs 187.

Advancing stocks continue to outnumber declining stocks - 1,531 shares have advanced while 943 have declined.