The Sensex has slipped from the day's high and is now up 155 points at 17,325. The Nifty is up 48 points at 5,171.
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(Updated at 1234 hrs)
The markets are consolidating at higher levels. The Sensex after touching a high of 17,330, is now hovering around 17,286, up 116 points.
The Nifty is at 5,156, up 34 points.
Hindalco and ACC have soared 3% each to Rs 147 and Rs 820, respectively.
Grasim Industies and Sterlite Industries have advanced over 2% each to Rs 2,449 and Rs 895, respectively.
Reliance Communications, Wipro, ONGC, Maruti, Tata Power and Tata Steel have increased around 1.5% each.
The other prominent gainers include Bharti Airtel, HDFC, DLF and Mahindra & Mahindra up over 1% each.
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Tata Motors continue to be the major loser on the Sensex, down 1% at Rs 721.
The market breadth is fairly positive, out of 2,626 shares traded, 1,807 have advanced and 751 have declined so far on the BSE.