Sensex pares gains, up 38pts

The Sensex touched a high of 13,052 in the opening trades, and is now up 38 points at 12,976.

Gujarat Ambuja, HDFC Bank and Ranbaxy have advanced over 2% each to Rs 119, Rs 955 and Rs 345, respectively.

Tata Steel has surged 1.6% to Rs 450. TCS, Reliance Communications, ICICI Bank and Infosys are the other prominent gainers.