Markets pare gains, power stocks up

 The Sensex is up 2.29% at 16,491 points. The Nifty is up 2% at 4965 points.

 
Power stocks continue to remain in the limelight. Reliance Energy, Tata Power, ABB and Bhel are all up between 3.5% and 7%.

 New listing Rural Electrification Corporation is up 17.8% at Rs 123.70 and is the most traded company. Reliance Industries is the second largest traded stock, up 2.7% at Rs 2411.

 Metal stocks such as Tata Steel, Sail and Hindalco are down between 1.4% and 1.8%.