The Sensex has rebounded sharply into the positive zone led by a smart upmove by FMCG gaints. The Sensex is now up 42 points at 10,324. However, oil stocks continue to reel under selling pressure.ACC has soared over 4% to Rs 621. Grasim has gained nearly 2% to Rs 1,700.Maruti has rallied nearly 3% to Rs 811.While HLL surged over 2% to Rs 244, ITC moved up nearly 2% to Rs 169.ICICI Bank has advanced 2% to Rs 606.Larsen & Toubro and Tata Power have spurted over 1% each to Rs 2,390 and Rs 525, respectively.Hindalco has plunged 2.7% to Rs 150. Ranbaxy has dropped 2.3% to Rs 432.ONGC (Rs 1,159), SBI (Rs 878), Satyam (Rs 771), Hero Honda (Rs 877), NTPC (Rs 132) and Infosys (Rs 2,823) are down 1-2% each. The market breadth is fairly negative. Out of 2,438 stocks traded so far, 1,503 have declined, 864 have advanced and the rest are unchanged.Oil & Gas stocks - especially the oil marketing companies - plunged following the hike in cess. IOC plunged to a low of Rs 544, and is now down 4.8% at Rs 5558. The stock had touched a high of Rs 599. Similarly, HPCL, BPCL and Essar Oil, too, tumbled after posting early gains. BPCL is down 4.2% at Rs 429. HPCL has shed 3% to Rs 326, and Essar Oil has dropped 1.7% to Rs 38. Chennai Petro and Petronet are also on slippery ground.
