Sensex pares gains, up 16pts

The Sensex has pared most of its gains and is now up 16 points at 11,910.

Dr.Reddy's and Grasim have advanced over 2% each to Rs 753 and Rs 2,376, respectively.

Satyam and TCS have gained over 1.5% each at Rs 816 and Rs 1,013, respectively.

Gujarat Ambuja, ACC and Ranbaxy are up over 1% each.

Reliance Communications and Hero Honda have slipped nearly 2% each to Rs 318 and Rs 765, respectively. NTPC has shed 1.7% to Rs 127.

Reliance Energy and HDFC Bank are the other prominent losers.

The market breadth is neutral - out of 2,315 stocks traded so far, 1,115 have declined, 1,107 have advanced and the rest are unchanged.