The Sensex opened 138 points lower at 8,889, but soon rebounded and touched a high of 9,078. The index is now exhibiting lacklustre movement and is now down 20 points at 9,007.
Reliance Infrastructure has slumped 4.5% to Rs 497. Tata Motors and Jaiprakash Assocaites have tumbled nearly 3% each to Rs 136 and Rs 55, respectively.
Tata Steel and Grasim have shed over 2.5% each to Rs 151 and Rs 893, respectively.
Reliance Communications has slipped 2% to Rs 195, and Larsen & Toubro is down 1.7% at Rs 738.
TCS has surged over 4% to Rs 549. ACC and Infosys have rallied over 2% each to Rs 412 and Rs 1,211, respectively.
Mahindra & Mahindra and Sterlite have moved up nearly 2% each to Rs 275 and Rs 235, respectively.
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Tata Power and Satyam are up around 1.5% each at Rs 665 and Rs 240, respectively.
The market breadth is negative - out of 1,385 stocks traded, 813 have declined, 541 have advanced and the rest are unchanged.