Sensex up 300pts; SBI surges 9%

The Sensex has rebounded, owing to constant buying in the banking and realty stocks. The index is now at 14,586, up 300 points.

Bankex and the Realty indices lead the rally, up over 7.5% each at 8,192 and 3,194, respectively.

Mahindra & Mahindra has surged over 13% to Rs 625. Larsen & Toubro has zoomed 11% to 1,377.

SBI and Maruti has advanced over 9% to 1,724 and Rs 1,010, respectively.

Reliance Communications has added 8% to Rs 309. ICICI Bank, Grasim Industries has increased 7% each to Rs 756 and Rs 2,234, respectively.

Infosys is the major dragger, it has plunged 11% to Rs 1,575. Wipro and TCS has slumped 7% each to Rs 394 and Rs 682, respectively.

ITC, Ranbaxy, Hindustan Unilever and Jaiprakash Associates are some of the other major losers.

The market breadth is positive, out of 2,419 shares traded, 1,643 have advanced and 718 have declined.

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