A sudden weakness in index-heavyweight, Reliance, has dragged the markets into the red.
The Sensex touched a low of 16,765. The index is now at 16,844 - up just 54 points.
The Nifty is up 17 points at 5,006.
Reliance has dropped 3.2% to Rs 2,064. Grasim has shed 3% at Rs 2,153.
Larsen & Toubro, Tata Motors, BHEL, Reliance Infrastructure, Bharti Airtel and Reliance Communications has slipped 1-2% each.
Meanwhile, ITC has gained over 4% at Rs 258. Tata Power has added 3% to Rs 1,465.
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Infosys, Maruti Suzuki, HDFC and Wipro have moved up aroudn 2% each.
Mahindra & Mahindra, TCS, Hindalco, Sun Pharma, HDFC Bank, Sterlite and DLF are the other gainers in the Sensex today.
The market breadth, however, continues to be marginally positive. Out of 2,806 stocks traded 1,421 have advanced while 1,273 have declined.