Sensex pares gains, now up 23pts

The Sensex has erased most of its gains and is now up 23 points at 10,422.

The index had touched a high of 10,597.

BHEL has gained nearly 2% at Rs 1,938. Maruti and ONGC have added 1.7% each to Rs 748 and Rs 1,132, respectively.

HDFC, HDFC Bank and Hero Honda have rallied 1.6% each to Rs 1,144, Rs 752 and Rs 783, respectively.

Hindalco, Bajaj Auto, ICICI Bank and Tata Steel are up over 1% each.

Tata Power has dropped 1.2% to Rs 491. HLL is down 1% at Rs 231.

The market breadth is fairly positive. Out of 1,716 stocks traded so far, 1,036 have advanced, 642 have declined and 38 are unmoved.