The Sensex has recovered smartly from the day's low of 9,302, and is now down 95 points at 9,441.
Bharti Airtel has soared 5% to Rs 663. Reliance Communications has surged nearly 4% to Rs 224.
Reliance Infrastructure has rallied 3.6% to Rs 560, and HDFC Bank has advanced over 3% to Rs 1,041.
Tata Power has moved up nearly 2% to Rs 745. Ranbaxy and TCS have added 1.5% each to Rs 218 and Rs 539, respectively.
Tata Motors has plunged 4% to Rs 143. Jaiprakash Assocaites has tumbled nearly 3% to Rs 75.
Mahindra & Mahindra has slumped 2.7% to Rs 333. HDFC, BHEL and Sterlite have slipped over 2% each to Rs 1,599, Rs 1,307 and Rs 232, respectively.
Infosys, Larsen & Toubro and Tata Steel have shed 2% each at Rs 1,234, Rs 811 and Rs 182, respectively.
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ACC and Wipro have declined 1.6% each to Rs 452 and Rs 244, respectively.
Maruti and ITC are down 1.3% each at Rs 552 and Rs 168, respectively.
The market breadth was fairly negative - out of 2,386 stocks traded so far, 1,352 have declined, 949 have advanced and 85 are unchanged.