The Sensex rebounded into the positive zone, recovering over 700 points from the day's low, on the back of aggressive buying in banking stocks. The index is now down 32 points at 13,231.
SBI has rallied over 3% to Rs 1,576.
ICICI Bank, Mahindra & Mahindra, NTPC and Wipro have gained around 2.5% each at Rs 575, Rs 551, Rs 173 and Rs 409, respectively.
TCS, Hindustan Unilever, ACC and HDFC Bank have advanced nearly 2% each to Rs 742, Rs 242, Rs 603 and Rs 1,205, respectively.
Reliance has moved up 1.4% to Rs 1,900. Maruti and ONGC are up 1% each at Rs 707 and Rs 989, respectively.
Ranbaxy has slumped over 8% to Rs 348. Jaiprakash Associates has plunged 7.5% to Rs 127.
Bharti Airtel has shed 4.5% at Rs 735. Tata Power and Tata Steel are up around 4% each at Rs 931 and Rs 457, respectively.