The Sensex recovered sharply and touched a high of 17,315 - up 188 points from the day's low. The Snsex is now up 95 points at 17,290.
The Nifty is up 24 points at 5,132.
SBI has suddenly jumped 5% to Rs 2,445. ICICI Bank and Reliance Communications have added 25 each to Rs 956 and Rs 234, respectively.
HDFC and Reliance have moved up 1.5% each. Tata Power, DLF, Jaiprakash Associates, Bharti Airtel, TCS and BHEL are the other gainers among the Sensex stocks today.
Meanwhile, Sterlite continues to slip and is down 5.5% at Rs 819. Other metal stocks - Tata Steel and Hindalco have shed 1.5% each at Rs 565 and Rs 133, respectively.
ITC and Mahindra & MAhindra are down 1% each.
The market breadth is positive. Out of 2,344 stocks traded 1,411 have advanced while 859 have declined.
