Sensex up 59 points

The Sensex has pared some gains, and is now up 59 points at 8708. The Nifty is up 20 points to 2624.

Auto and cement stocks are holding firm their gains. Cipla, Ranbaxy, HLL, Infosys and Reliance Industries have pared gains. At the same time, ICICI Bank and Tata Power have slipped into red.

The market breadth is positive. Out of a total of 2,491 stocks traded on the BSE, 1,399 stocks have advanced, 1,015 stocks have declined and the rest are unchanged.