Sensex up 236pts; JP Associates up 5%

The Sensex is now up 236 points at 16,717.

The NSE Nifty is up 70 points at 5,029.

Jaiprakash (JP) Associates has soared 4.5% to Rs 227, and Tata Steel has surged over 4% to Rs 746.

HDFC Bank has rallied 3% to Rs 1,437. Grasim and Maruti have moved up 2.7% each to Rs 2,637 and Rs 780, respectively.

Bharti Airtel and Wipro have gained 2.5% each at Rs 844 and Rs 470, respectively.