The Sensex has pared gains and is now up 57 points at 9,206. Earlier in the day, the index opened 77 points higher at 9,226, and thereafter touched a high of 9,338.
Sterlite and Jaiprakash Associates have surged around 5% each to Rs 282 and Rs 70, respectively. DLF has rallied 4.5% to Rs 139.
Tata Steel has gained 4% at Rs 177, and Reliance Communications has moved up 3.5% to Rs 165.
Maruti has advanced 2.5% to Rs 599. ONGC and ACC are up around 2% each at Rs 664 and Rs 528, respectively.
Ranbaxy has slipped 1.5% to Rs 206, and Mahindra & Mahindra is down 1% at Rs 285.
The market breadth is positive - out of 2,360 stocks traded so far, 1,223 have advanced, 1,032 have declined and the rest are unchanged.