The Sensex, after touching a low of 17,373 recovered to touch a high of 17,453. The index is now up 71 points at 17,431.
The Nifty is up 22 points at 5,201.
ICICI Bank has contributed the mst in terms of points to the Sensex's upmove. The stock is now up 2% at Rs 880. Reliance has added 1% to Rs 1,084.
Reliance Infrastructure has surged 3.3% to Rs 1,137. NTPC and Bharti Airtel have gained 2% each at Rs 235 and Rs 328, respectively. Other telecom stock, Reliance Communications, has advanced 1.2% to Rs 177.
HDFC, Tata Steel, Tata Motors and Hero Honda have also moved up.
However, IT stocks continue to trade in red. Wipro has dropped 2% to Rs 681. TCS is down 1% at Rs 742.
ONGC and Sun Pharma are the other stocks which have declined in trades.
The market breadth is positive. Out of 2,796 stocks traded 1,899 have advanced while 818 have declined.
Value & Volume toppers:
Tata Steel has topped the value chart on BSE with a turnover of Rs 70.87 crore, followed by Suzlon, Tata Motors, Titagarh Wagons and Reliance.
The volume chart is being led by Ispat Industries with trades of over 8.24 million shares, followed by Kaashyaap Technologies, Satyam Computers, Radhe Developers and Asahi Infrstructure.
