The benchmark indices have retraced all their earlier losses, with banking leading the bounceback. The Sensex is quoting at 18990, higher by 12 points and the Nifty is at 5695, up six points.
It has been a fairly volatile day of trade, with the BSE Sensex swinging in a range of almost 300 points between a low of 18,794 and a high of 19,069. The indices were slumping since morning on the back of weak cues on the global market front before a vertical pullback lifted the markets into green territory.
The BSE bankex has soared 1.7% at 12264. ICICI Bank has zoomed by 2.7% at Rs 1052, HDFC Bank has gained 1.4% at Rs 2108 and HDFC has added 1.3% at Rs 661.
On the losers side, ONGC has weakened by 2% at Rs 1133, ITC jas lost 1.9% at Rs 172 and Bajaja Auto has lost 1.2% at Rs 1303.
The market breadth is negative. Out of 2830 stocks traded on the BSE, there are 1202 advancing stocks as against 1517 declinhes.