The markets have clawed their way back into the green on the back of gains in select stocks, mainly Reliance. Auto and realty stocks too have also perked up in mid-noon trades. The Sensex, which, began the day on a positive note had shed 280 points from the high of 18,583 to a low of 18,303 in late morning deals.
The BSE benchmark index, however, has now rebounded and is up 33 points at 18,472. Meanwhile, the NSE Nifty has added 11 points to 5530.
Broader markets have outperformed the benchmark indices today. The BSE mid and small-cap indices have added 0.6% to 6,602 and 0.7% to 8,004, respectively.
Reliance was the biggest contributor the Sensex's upmove. The stock jumped 1.2% to Rs 997 following reports of likely higher gas output in April. Banking major - ICICI Bank has added 1.5% to Rs 1,037.
Bajaj Auto and Reliance Communications have moved up 2% each in trades. DLF, TCS, Maruti Suzuki and M&M were up 1% each. Other stocks in the gainers list were BHEL, Hindalco, Tata Motors and Hero Honda.
Meanwhile, Sterlite shed 1% at Rs 167. Cipla saw some profit booking and was down 1% at Rs 304. Jindal Steel, NTPC and Hindustan Unilever dropped marginally in trades.
The BSE market breadth was marginally positive. Out of 2,828 stocks traded, 1,564 advanced while 1,132 declined.