Sensex pares gains, up 54pts; JP Asso down 4%

The Sensex has pared most of its gains and is now up 54 points at 14,863.

The NSE Nifty is up 37 points at 4,540.

DLF has surged nearly 5% to Rs 632. Hindustan Unilever has rallied 3.8% to Rs 231.

Ranbaxy and Reliance Energy have soared around 3.5% each to Rs 453 and Rs 1,233, respectively.

TCS and Reliance Communications have moved up nearly 3% each to Rs 816 and Rs 497, respectively.

BHEL and Larsen & Toubro have gained 2.3% each at Rs 1,839 and Rs 2,765, respectively.

Tata Motors, Cipla and Bharti Airtel are up around 2% each at Rs 619, Rs 204 and Rs 756, respectively.

Jaiprakash Associates has plunged nearly 4% to Rs 200. Tata Steel and SBI have dropped 2.3% each to Rs 643 and Rs 1,596, respectively.

Hindalco and ITC have slipped around 1.5% each to Rs 162 and Rs 183, respectively.

Grasim and Infosys are down over 1% each to Rs 2,635 and Rs 1,320, respectively.

Out of 2,716 stocks traded so far, 1,886 have declined, 771 have advanced and 59 are unchanged.