The Sensex has recovered from its low and is now up 139 points at 14,182.
ITC has surged 7% to Rs 212. Maruti Suzuki has rallied 6% to Rs 1,099. Hindustan Unilever has gained 5% at Rs 290.
ICICI Bank and Mahindra & Mahindra have added 4% each to Rs 709 and Rs 740, respectively.
Larsen & Toubro, Grasim, Jaiprakash Associates, Hero Honda, Bharti Airtel, ACC, BHEL, Sun Pharma and Wipro have also moved up 1-3% each.
Meanwhile, Sterlite continues to drag at Rs 562 -down 4.5%. ONGC and Reliance Communications have dropped 2.3% each to Rs 1,046 and Rs 263, respectively.
Reliance, Tata Power and Tata Motors are also down.
The market breadth is fairly negative. Out of 2,025 stocks traded, 1,186 have declined while 788 have advanced.