Sensex pares gains, ONGC, ICICI Bank weak

The Sensex has pared gains and is now up 10 points at 16,026.

The NSE Nifty is up 10 points at 4,840.

Tata Steel has soared 6% to Rs 694. ITC and Cipla have surged over 3% each to Rs 207 and Rs 218, respectively.

ACC has rallied over 2% to Rs 837. Ranbaxy and Jaiprakash Associates have moved up 1.7% each to Rs 443 and Rs 235, respectively.

Reliance Energy, Hindalco and DLF have advanced around 1.5% each to Rs 1,305, Rs 175 and Rs 683, respectively.

ONGC and ICICI Bank have plunged 2.7% each to Rs 1,041 and Rs 812, respectively. HDFC Bank has shed 2.4% at Rs 1,401.

Tata Motors has slipped 1.7% to Rs 644. HDFC and Hindustan Unilever are down around 1% each at Rs 2,632 and Rs 242, respectively.