The Sensex has pared gains and is now up 277 points at 9,242. Earlier in the day, the index opened with a significant positive gap of 312 points at 9,277 following the double bonanza - RBI cutting rates and the government announcing a stimulus package - over the weekend. The index, thereafter, touched a low of 9,209, and the bounced back to a high of 9,432.
DLF and Tata Steel have zoomed 9.5% each to Rs 222 and Rs 200, respectively.
Bharti Airtel has soared 6.5% to Rs 709. Reliance Communications, Wipro and HDFC have surged over 6% each to Rs 209, Rs 241 and Rs 1,523, respectively.
Reliance Infrastructure has rallied nearly 6% to Rs 564. Grasim and Jaiprakash Associates have moved up over 5% each to Rs 988 and Rs 70, respectively.
Tata Motors has slipped almost 1% to Rs 152.
Out of 2,428 stocks traded so far, 1,455 have advanced, 888 have declined and the rest are unchanged.