The Sensex has pared some more gains and is now up 158 points at 9,229. Earlier in the day, the index had opened 137 points higher at 9,208, and touched a high of 9,388.
Reliance, Mahindra & Mahindra and Infosys have surged 4.8% each to Rs 1,133, Rs 318 and Rs 1,288, respectively.
Tata Steel has gained 4% at Rs 211. Reliance Infrastructure has moved up 3.7% to Rs 494.
TCS and ONGC have moved up 3.3% each to Rs 540 and Rs 651, respectively.
Jaiprakash Associates, Hindalco, Bharti Airtel and Sterlite have advanced around 3% each to Rs 69, Rs 50, Rs 625 and Rs 270, respectively.
Sun Pharma, however, has slipped 1.6% to Rs 1,116.
The market breadth is positive - out of 2,371 stocks traded so far, 1,292 have advanced, 981 have declined and the rest are unchanged.