Sensex pares gains on poor IIP numbers

The Sensex has pared most of it's gains on poor IIP numbers. The index is now up 33 points at 11,717.

Earlier in the day, the index touched a high of 11,780, up 155 points from the day's low.

Infosys has surged 3.5% to Rs 1,565. Wipro and Mahindra & Mahindra have rallied 2% each to Rs 357 and Rs 512, respectively.

HDFC Bank and Bharti Airtel have advanced 1.5% each to Rs 1,164 and Rs 759, respectively. ICICI Bank and Reliance Communications have also added.

On the other hand, Tata Steel has plunged 4% to Rs 261. Sterlite and ACC have shed 2.5% at Rs 474 and Rs 579, respectively.

Larsen & Toubro, Grasim, Hindustan Unilever, Maruti Suzuki and Tata Motors are the other major losers.

The market breadth is fairly negative. Out of 2,170 stocks traded, 1,224 have declined and 858 have advanced.