The Sensex has pared some of its gains and is now up 90 points at 14,589.
ONGC and Jaiprakash Associates have surged around 2.5% each to Rs 1,057 and Rs 167, respectively.
SBI and Tata Power have rallied around 2% each to Rs 1,445 and Rs 1,059, respectively.
ACC has gained 1.7% at Rs 574. Larsen & Toubro and ICICI Bank have moved up 1.4% each to Rs 2,598 and Rs 674, respectively.
Reliance Infrastructure and TCS are up around 1% each at Rs 995 and Rs 822, respectively.
Ranbaxy, however, has plunged nearly 6% to Rs 471.