Sensex pares gains, up 342pts; ONGC slips 4%

The Sensex has pared gains and is now up 342 points at 11,651.

Satyam has zoomed over 9% to Rs 294.

Wipro and Tata Power have soared over 6% each to Rs 302 and Rs 839, respectively.

Reliance Infrastructure has surged over 6.5% to Rs 635. Infosys, TCS, Bharti Airtel and Jaiprakash Associates have rallied 5.3% each to Rs 1,390, Rs 606, Rs 779 and Rs 85, respectively.

ICICI Bank has advanced over 5% to Rs 447. Tata Steel and Reliance are up over 5% each at Rs 319 and Rs 1,642, respectively.

Sterlite and Larsen & Toubro are up nearly 4% each at Rs 330 and Rs 1,026, respectively.

ONGC has shed 3.5% at Rs 883. HDFC Bank, Mahindra & Mahindra and Hindalco have dropped 2.5% each to Rs 1,148, Rs 507 and Rs 87, respectively.

NTPC has slipped 2% to Rs 176.

The market breadth is extremely positive - out of 2,545 stocks traded so far, 1,801 have advanced, 695 have declined and the rest are unchanged.