The Sensex has pared gains and is now up 94 points at 8,958. Earlier in the day, the index had rallied to a high of 9,120.
The BSE Realty index has soared 6.4% to 1,565. The Metal index has surged 3.2% to 5,133, and the Capital Goods index has rallied 2.9% to 6,068.
DLF has zoomed nearly 8% to Rs 171, and Jaiprakash Associates has soared nearly 7% to Rs 79.
Tata Steel and BHEL have rallied over 4% each to Rs 176 and Rs 1,457, respectively. Sterlite has surged 3.7% to Rs 303.
Reliance Infrastructure has gained 3.5% at Rs 480. Hindalco and ICICI Bank have advanced over 3% each to Rs 45 and Rs 335, respectively.
HDFC Bank, TCS, Tata Motors and Reliance are up around 2.5% each at Rs 847, Rs 510, Rs 176 and Rs 1,333, respectively.
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Larsen & Toubro and Wipro have added 2.3% each to Rs 632 and Rs 233, respectively.
Mahindra & Mahindra has plunged nearly 4% to Rs 363. Tata Power has shed 2.3% at Rs 661.
ITC has slipped nearly 2% to Rs 170, and ACC is down 1.4% at Rs 549.
The market breadth is fairly positive - out of 2,536 stocks traded so far, 1,554 have advanced, 879 have declined and the rest are unchanged.