Sensex rebounds, up 14pts; ONGC gains 2%

The Sensex has rebounded into the positive zone and is now up 14 points at 12,476.

Earlier in the day, the index zoomed to a new life-time intra-day high of 12,545, and then tumbled to a low of 12,356 - a swing of 189 points.

ONGC has flared up over 2% to Rs 1,411. Tata Steel has spurted 2% to Rs 657.

Satyam has rallied 1.7% to Rs 796. Reliance Energy, Bajaj Auto and Gujarat Ambuja are up 1% each at Rs 631, Rs 3,158 and Rs 121, respectively.

Dr.Reddy's has dropped 1.7% to Rs 1,655. Bharti Tele has slipped 1.4% to Rs 416.

HLL, HDFC Bank, ITC, Hindalco and NTPC are down 1% each at Rs 279, Rs 860, Rs 206, Rs 227 and Rs 129, respectively.

Out of 2,544 stocks traded so far, 1,363 have advanced, 1,125 have declined and the rest are unchanged.