The Sensex opened with a negative gap of 80 points at 15,037. Weakness in noon trades saw the index slip to a low of 14,888 - down 229 points from the previous close.
However, Fresh buying at lower levels helped the index recoup losses and rebound into the positive zone. The index rallied to a high of 15,229 - up 341 points from the day's low. The Sensex finally ended with a gain of 51 points at 15,168.
The market breadth was marginally negative - out of 2,799 stocks traded so far, 1,406 declined, 1,324 advanced and 69 were unchanged today.
The NSE Nifty was up six points at 4,530.
INDEX MOVERS...
Sterlite and ONGC surged 4% each to Rs 639 and Rs 1,064, respectively.
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ICICI Bank and Larsen & Toubro rallied 2.8% each to Rs 729 and Rs 2,834, respectively.
HDFC Bank and Hindalco gained around 2% each at Rs 1,280 and Rs 145, respectively.
Maruti, HDFC and Tata Steel were up around 1.5% each at Rs 680, Rs 2,513 and Rs 651, respectively.
...AND THE SHAKERS
Grasim, Wipro and Infosys dropped 2.5% each to Rs 2,038, Rs 438 and Rs 1,680, respectively.
Jaiprakash Associates shed 2% at Rs 184. Satyam tumbled 1.8% to Rs 409.
ACC slipped 1.5% to Rs 630. DLF, TCS, Bharti Airtel and Reliance were down around 1% each at Rs 548, Rs 843, Rs 842 and Rs 2,250, respectively.
VALUE & VOLUME TOPPERS
Reliance Capital topped the value chart with a turnover of Rs 346.35 crore followed by Reliance Natural Resources (Rs 293.50 crore), Reliance (Rs 211 crore), ICICI Bank (Rs 193.80 crore) and Larsen & Toubro (Rs 178.40 crore).
Reliance Natural Resources led the volume chart with trades of around 2.90 crore shares followed by Chambal Fertilisers (1.62 crore), Nagarjuna Fertilisers (1.35 crore), Ispat Industries (1.05 crore) and IFCI (88.70 lakh).