The Sensex has wiped out almost all its gains on the back of a sudden bout of selling. The index which rallied to a high of 11,492 - up 315 points from the day's low, is now up just 10 points at 11,339.
Mirroring weak cues from the Asian markets, the Sensex opened with a negative gap of 92 points at 11,237. The index soon touched a low of 11,177.
The index thereafter recovered and rebounded into the positive zone on the back of fresh buying in banking, capital goods and metal stocks.
The index rallied to a high of 11,443 - up 258 points from the day's low. The Sensex is now up 77 points at 11,406.
ICICI Bank has surged 5.5% to Rs 456, and Sterlite has gained 4.3% at Rs 415.
Mahindra & Mahindra and TCS have rallied 3.3% each to Rs 490 and Rs 602, respectively.
Sun Pharma and Jaiprakash Associates have gained 3% each at Rs 1,232 and Rs 130, respectively.
DLF has moved up 2.5% to Rs 248.
Ranbaxy has shed nearly 5% at Rs 167. Tata Power and Reliance Infrastructure have slipped around 2% each to Rs 865 and Rs 725, respectively.
Reliance Communications and Hindustan Unilever are down around 1.5% each at Rs 229 and Rs 235, respectively.
The market breadth is fairly positive - out of 2,305 stocks traded so far, 1,325 have advanced, 905 have declined and the rest are unchanged.
