After opening 73 points higher at 8,768, and touching a high of 8,828, the Sensex slipped into red to a low of 8,659. The index, however, has bounced back into the positive zone and is now up 49 points at 8,745.
Sterlite has surged 5.5% to Rs 216. ICICI Bank and Wipro have rallied over 3% each to Rs 330 and Rs 236, respectively.
Bharti Airtel and HDFC Bank have advanced over 2% each to Rs 639 and Rs 854, respectively.
ONGC and Tata Motors have moved up nearly 2% each to Rs 698 and Rs 138, respectively. Reliance is up over 1% at Rs 1,084.
Mahindra & Mahindra has plunged 2.6% to Rs 269. Hindalco has dropped over 2% to Rs 50.
Infosys and Tata Steel have shed 1.7% each at Rs 1,160 and Rs 148, respectively.
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SBI has slipped 1.5% to Rs 1,058. Maruti and Reliance Infrastructure are down over 1% each at Rs 529 and Rs 492, respectivley.
The market breadth is extremely negative - out of 1,625 stocks traded so far, 1,024 have declined, 544 have advanced and the rest are unchanged.