The Sensex opened 72 points higher at 16,916, and soon touched a high of 16,963. The index, however, has slipped into red and is now down 74 points at 16,770.
The index is now up 67 points at 16,910.
The NSE Nifty is up 16 points at 5,018.
Bharti Airtel and Reliance Communications have surged around 3% each to Rs 346 and Rs 253, respectively.
TCS has advanced over 2% to Rs 586, and Infosys has gained 1.3% at Rs 2,240.
Tata Steel is up 1% at Rs 541.
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Tata Motors has plunged over 4% to Rs 562. Hero Honda has dropped over 2% to Rs 1,633.
Reliance Infrastructure, SBI, ICICI Bank and ITC are down around 1.5% each at Rs 1,312, Rs 2,085, Rs 910 and Rs 247, respectively.