The upbeat mood gathered momentum on the stock markets with the benchmark Sensex rising by a whopping 667 points at 12.45 am as the United Progressive Alliance government won the trust vote on Tuesday evening, ending worries about political instability.

Marketmen said the sentiment was also boosted by hopes that the government will now be able to push forward economic reforms as well as strong global cues.

They said the reforms process almost had come to a standstill in the last four years due to opposition by the Left parties, which was the key ally of the government.

The 30-share index of the Bombay Stock Exchange was up 667.26 points at 14,771.46, a gain of 4.73%, at 12.45 a.m. The 50-share S&P CNX Nifty also surged by 187.90 points or 4.24 per cent at 4,428.00.

FMCG, Power, Metal and Capital Goods shares remained in the forefront on sustained and heavy buying support.

Reliance Communications [Get Quote], Reliance Infrastructure and ICICI Bank [Get Quote] have zoomed 10% each to Rs 515, Rs 1,012 and Rs 728, respectively. BHEL has soared 9% to Rs 1,742. HDFC [Get Quote] and DLF have surged 8.7% each to Rs 2,334 and Rs 494, respectively.

HDFC Bank has rallied over 7% to Rs 1,179, and SBI [Get Quote] has gained 6.7% at Rs 1,491. Tata Steel [Get Quote] has moved up over 6% to Rs 663. Tata Motors [Get Quote] has advanced 5% to Rs 432, and Larsen & Toubro has added 4.5% to Rs 2,687.

Bharti Airtel [Get Quote], Jaiprakash Associates [Get Quote] and Satyam [Get Quote] are up around 4% each at Rs 811, Rs 166 and Rs 383, respectively. Cipla is down 1.5% at Rs 234.

Out of 2,469 stocks traded so far, 2,044 have advanced, 370 have declined and 55 are unchanged.