Sensex pares gains, Hindalco drops 3%

The Sensex has erased all its gains and is now flat 14,192, up one point. The index had rallied to a high of 14,273, after touching a low of 14,113 in the opening trades.

Bajaj Auto has rallied 4.5% to Rs 3,075. ONGC has surged over 2% to Rs 884.

Dr.Reddy's and Bharti Airtel have moved up 1.5% each to Rs 736 and Rs 740, respectively.

BHEL has gained 1.3% at Rs 2,375. Tata Motors, Wipro and Reliance Energy are up 1% each at Rs 883, Rs 635 and Rs 540, respectively.

Hindalco has dropped 3% to Rs 145. Reliance Communications and ITC have slipped 2% each to Rs 446 and Rs 172, respectively.

Gujarat Ambuja has shed 1.7% to Rs 172, and Cipla has declined 1.5% to Rs 243.

HLL, HDFC Bank, ACC, Infosys and HDFC are down over 1% each to Rs 201, Rs 1,080, Rs 1,013, Rs 2,327 and Rs 1,740, respectively.

The market breadth is positive - out of 2,153 stocks traded so far, 1,254 have moved up, 862 have declined and the rest are unchanged.