After rebounding into the positive territory, the markets have pared some gains and are now marginally down in the negative zone. Although banking stocks continue to rule firm, IT stocks have slipped again to lower levels.
The Sensex touched a high of 18,114 - up 199 points from the day's low - and is now down 33 points at 18,037. The NSE Nifty is down nine points at 5412.
The BSE Bankex has rallied 1.6% to 12,022, while the IT index is down 1.4% at 5470.
SBI is the major gainer - up 6% at Rs 2,753 on the back of robust Q1 results. ONGC and Hindustan Unilever too continue to trade on a firm note.
Tata Steel and Hindalco are the other notable gainers. On the other hand, Sterlite is the major loser - down 2.7% at Rs 168.
Wipro and HCL Technologies have dropped around 2% each to Rs 410 and Rs 399, respectively. Infosys has slipped 1.7% to Rs 2,763.
JP Associates, Reliance Capital, ITC, TCS, Bharti Airtel and Reliance are the other major losers.
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