The Sensex touched a high of 9,768, and is now up 155 points at 9,723. Earlier the day, the index opened 65 points higher at 9,633, and after extending gains slipped into red to a low of 9,547 - down 192 points from the day's high.
Tata Steel has zoomed 6.8% to Rs 209. Tata Motors has soared 6.4% to Rs 183.
Jaiprakash Associates has surged 6.3% to Rs 83. ACC has gained 5.7% to Rs 597.
Reliance Communications has soared 4.3% to Rs 175. Hindalco and Reliance Infrastructure have rallied 4.2% each to Rs 52 and Rs 523, respectively.
Larsen & Toubro and Ranbaxy are up 3.2% each to Rs 672 and Rs 163, respectively.
Mahindra & Mahindra has gained 2.9% to Rs 381. ITC has moved up 2.6% at Rs 184. SBI, TCS and Infosys have advanced 2.5% each to Rs 1,048, Rs 536 and Rs 1,329, respectively.
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Bharti Airtel, Sun Pharma and Reliance are up around 2% each.
The market breadth is positive - out of 2,341 stocks traded so far, 1,419 have advanced, 830 have declined and 92 are unchanged.