Sensex up 18pts; REL gains 4%

The Sensex has erased most of its gains and is now up 18 points at 11,530.

Reliance Energy has surged 3.6% to Rs 465. Hindalco has added 2.5% to Rs 165, and Tata Steel has spurted over 2% to Rs 519.

Hero Honda, ONGC, HDFC Bank and HDFC are up around 1.5% each at Rs 708, Rs 1,208, Rs 849 and Rs 1,308, respectively.

Larsen & Toubro, TCS and Reliance are up around 1% each.

Ranbaxy, Dr.Reddy's and BHEL have dropped around 1.5% each to Rs 394, Rs 1,449 and Rs 2,250, respectively.

Out of 2,577 stocks traded so far, 1,351 have advanced, 1,147 have declined and the rest are unchanged.