Sensex pares gains, up 38pts

The Sensex has pared some of its gains and is now up 38 points at 11,943. The index had touched a high of 11,983.

Reliance Energy has surged 3.5% to Rs 481. Larsen & Toubro has advanced over 2% to Rs 2,519.

Reliance has moved up 1.3% to Rs 1,140. Dr.Reddy's, Tata Steel and ITC are up over 1% each at Rs 738, Rs 519 and Rs 189, respectively.

ONGC has slipped 1.5% to Rs 1,211. HDFC Bank has dropped 1% to Rs 865.

Out of 2,448 stocks traded so far, 1,453 have advanced, 907 have declined and the rest are unchanged.