Sensex rebounds, up 21pts; Satyam spurts 2%

The Sensex has rebounded into the positive zone and is now up 21 points at 14,239.

Tata Tea surged to a high of Rs 941, and is now up 4.5% at Rs 919 on reports from New York Times that Coca Cola board has agreed to buy vitamin water maker Glaceau for $4.2 billion in cash. The deal is likely to be announced later today.

Satyam has surged over 2% to Rs 466, and Wipro has gained 1.7% at Rs 541.

Larsen & Toubro has moved up 1.5% to Rs 1,727. Infosys and HLL are up over 1% each at Rs 1,961 and Rs 204, respectively.

Gujarat Ambuja has shed 2% to Rs 113. HDFC Bank has slipped 1.5% to Rs 1,074.

HDFC, Tata Steel and ACC are down over 1% each to Rs 1,735, Rs 625 and Rs 849, respectively.

Out of 2,507 stocks traded so far, 1,368 have advanced, 1,047 have declined and 92 are unchanged.