Sensex up 37 points

The Sensex ended at 17556, higher by 35 points and the Nifty shut at 5255, up nine points (provisional closing).

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(Updated at 1500pm)

Markets have spurted in the past one hour. The Sensex is now at 17,574, up 54 points and the Nifty is at 5,260, up 14 points.

Bharti Airtel has gained 3.6% at Rs 311, Reliance Communications has added 2.2% to Rs 168 and SBI has added 1.5% at Rs 2062. Hero Honda, Tata Power and Jaiprakash Associates are the other significant gainers. And index heavyweight Reliance Industries is nearly 1% up at Rs 1085.

On the other hand, HDFC continues to show weakness and is now down 1.5% at Rs 2,694. DLF has corrected by 1.3% at Rs 312 and M&M has shed 1% at Rs 1,075.

The market breadth is positive. Out of 2922 stocks traded on the BSE, there are 1435 advancing stocks as against 1378 declines.