The Sensex has pared gains and is now up 29 points at 14,838.The NSE Nifty is up 22 points at 4,525.Reliance Energy has surged 3% to Rs 1,227. Bharti Airtel has rallied 2.7% to Rs 763, and Reliance Communications has added 2.5% to Rs 495.ONGC, Satyam and BHEL have rallied around 2% each to Rs 1,005, Rs 374 and Rs 1,830, respectively.ACC and Ranbaxy have moved up 1.7% each to Rs 785 and Rs 445, respectively. TCS has gained 1.5% at Rs 804.Wipro and Larsen & Toubro are up over 1% each at Rs 360 and Rs 2,735, respectively.Maruti, Cipla, DLF and Infosys are the other major gainers.Jaiprakash (JP) Associates and HDFC Bank have plunged over 4% each to Rs 199 and Rs 1,187, respectively.Tata Steel has shed 3.3% at Rs 637. HDFC has dropped 2% to Rs 2,181.SBI has slipped 1.8% to Rs 1,604, and ICICI Bank has declined 1.5% to Rs 746.ITC and Mahindra & Mahindra are down over 1% each at Rs 184 and Rs 629, respectively.