The Sensex opened on a strong note at 16,368 and soared to a high of 16,526. The index is now trading at 16,502, up 146 points. The NSE Nifty is 39 points higher at 4,939.

Tata Steel is the major gainer on the Sensex, up 2% at Rs 589. Sterlite, Hindalco, Tata Motors have advanced around 2% each at Rs 760, Rs 152 and Rs 732, respectively.

IT stocks like Infosys, TCS and Wipro have added 1.5% each at Rs 2,492, Rs 757 and Rs 676, respectively.

DLF, Bharti Airtel, Larsen & Toubro, Hero Honda, ACC and HDFC are firm, up 1% each.

NTPC, Hindustan Unilever and ITC are the only losers on the Sensex.

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