The Sensex opened the day flat at 17,197. Thereafter the index slipped to touch a low of 17,126.
The Sensex has recovered now and is near its high at 17,235 - up 40 points.
The Nifty is up eight points at 5,118.
Reliance Communications has added 2.2% to Rs 234. Reliance Infrastructure, Wipro and Tata Power have gained 1.5% each at Rs 1,298, Rs 583 and Rs 1,388, respectively.
TCS, Maruti Suzuki, Reliance and Jaiprakash Associates are up around 1% each.
However, Sterlite has slumped 6.5% to Rs 812.
Mahindra & Mahindra and ITC have shed 1.5% each to Rs 948 and Rs 253, respectively.