The Sensex has rebounded sharply and is now up 31 points at 16,155. The Nifty is up two points at 4,809.
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(Updated at 1235 hrs)
The Sensex has started slipping and is now up just 17 points at 16,141.
The Nifty is down 10 points at 4,795.
Hindalco has extended gains and is now up almost 4% at Rs 119. Reliance has gained 3% at Rs 2,134.
Sterlite and Jaiprakash Associates have added 1.5% each to Rs 753 and Rs 237, respectively. Tata Steel and Maruti Suzuki have also moved up around 1% each.
Meanwhile, Bharti Airtel has slipped 1.5% to Rs 418. Tata Motors has dropped 1.3% to Rs 555. DLF and Wipro have declined around 1% each.
The market breadth continues to be positive, with 49% shares on the positive side.