Sensex surges 250pts; Sterlite rallies 7%

The Sensex has a reached a new intra-day high of 11,070, up 266 points. The index is now at 11,050 - up 246 points.

Tata Motors and Tata Steel have zoomed over 10% each to Rs 248 and Rs 287, respectively. SBI has surged  7% (Rs 81) at Rs 1,221.

Sterlite has advanced almost 7% at Rs 423.  ICICI Bank, HDFC Bank and DLF have soared nearly 5% each at Rs 419, Rs 1,097 and Rs 233, respectively.

Jaiprakash and Mahindra & Mahindra are up 4% each at Rs 119 and Rs 452, respectively.

Sun Pharma, Reliance Communications, Reliance Infrastructure and Maruti Suzuki are the other major gainers - up around 3% each.

However, Hindustan Unilever has declined almost 2% at Rs 229. Infosys, TCS, Bharti Airtel, Wipro are down 1% each.

The market breadth is positive. Out of 2,589 stocks traded so far, 2,103 have advanced and 433 have declined.