Sensex rebounds, now up 10pts

The Sensex has rebounded into the positive zone and is now up 10 points at 12,358.

Larsen & Toubro has surged 3.3% to Rs 2,722.

ONGC, Cipla and Hindalco have rallied over 2% each to Rs 1,357, Rs 275 and Rs 230, respectively.

Reliance has gained 1.7% at Rs 1,098. Satyam, Hero Honda and Dr.Reddy's are up 1% each.

HLL has dropped 2.6% to Rs 285. Gujarat Ambuja, ICICI Bank and Tata Steel have declined 2% each to Rs 116, Rs 648 and Rs 643, respectively.

TCS, Tata Power and Maruti have slipped 1.5% each.

The market breadth is slightly positive. Out of 2,565 stocks traded so far, 1,308 have advanced, 1,202 have declined and 55 are unchanged.

Reliance continues to top the value chart with a turnover of Rs 130.38 crore followed by Plethico Pharma (Rs 124.84 crore), Lokesh Machines (Rs 113.14 crore), Reliance Communication Ventures (Rs 97.12 crore) and VSNL (Rs 89.62 crore).

Reliance Natural Resources led the volume chart with trades of around 1.18 crore shares followed by SAIL (71.30 lakh), Himachal Futuristic (67.59 lakh), Gujarat Ambuja (67 lakh), Bella Steel (62.38 lakh).