The Sensex has pared most of its gains and is now up 28 points at 9,177. Earlier in the day, the index opened 77 points higher at 9,226, and thereafter touched a high of 9,338.
Sterlite has soared 5% to Rs 281, and Jaiprakash Associates has surged nearly 5% to Rs 70.
DLF has rallied 4.5% to Rs 139, and Tata Steel has gained 3.5% at Rs 177.
Reliance Communications has moved up 2.5% to Rs 164, and Maruti has added 2.3% to Rs 597.
ONGC and ACC are up nearly 2% each at Rs 661 and Rs 527, respectively.
Mahindra & Mahindra (M&M) has shed 2.7% at Rs 280. Ranbaxy has slipped 1.8% to Rs 205.
Hindalco and Reliance Infrastructure have declined around 1.5% each to Rs 44 and Rs 516, respectively.
Larsen & Toubro and NTPC are down 1% each at Rs 651 and Rs 175, respectively.
The market breadth has turned negative - out of 2,429 stocks traded so far, 1,168 have declined, 1,143 have advanced and the rest are unchanged.
