Sensex pares gains, up 70pts

The Sensex has pared most of its gains on account of profit taking at higher levels and is now up 70 points at 10,946.

Ranbaxy has soared over 5% to Rs 397. HDFC has advanced over 3% to Rs 1,230.

HDFC Bank has rallied 2.5% to Rs 799. Reliance Communications and Bharti Airtel are up over 2% each at Rs 272 and Rs 402, respectively.

Tata Motors and ICICI Bank are up nearly 2% each at Rs 772 and Rs 558, respectively.

HLL and BHEL have dropped 1.5% each to Rs 225 and Rs 2,122, respectively.

ITC and Reliance Energy are down over 1% each at Rs 171 and Rs 453, respectively.

Out of 2,518 stocks traded, 1,607 have advanced, 838 have declined and the rest are unchanged.