Sensex pares gains; Hindalco drops 4%

The Sensex has pared gains and is now up 279 points 11,226. Earlier in the day, the index had rallied to a high of 11,339, after opening with a positive gap of 121 points at 11,068.

Reliance Infrastructure and Jaiprakash Associates have soared around 6% each to Rs 682 and Rs 119, respectively.

Larsen & Toubro has surged nearly 5.5% to Rs 876. SBI and ICICI Bank have rallied over 5% each to Rs 1,327 and Rs 448, respectively.

Infosys has gained 3.8% at Rs 1,392, and HDFC has added 3.5% to Rs 1,813.

Reliance Communications has moved up 3% to Rs 224. DLF, ONGC and Tata Steel are the other major gainers.

Hindalco has shed 3.5% at Rs 56. Maruti and Sun Pharma are down over 1% each at Rs 840 and Rs 1,222, respectively.