Sensex rebounds, up 31pts; Bajaj down 4%

The Sensex has rebounded into the positive zone and is now up 31 points at 17,380.

The NSE Nifty is up 10 points at 5,121.

Bajaj Auto has slumped 4.5% to Rs 2,192, and HDFC Bank has tumbled 4% to Rs 1,415.

Mahindra & Mahindra has shed 2.4% at Rs 614. SBI has slipped 1.6% to Rs 2,080.

Bharti Airtel and ICICI Bank have dropped over 1% each to Rs 840 and Rs 1,088, respectively.

Hindalco and Tata Steel are also down over 1% each to Rs 190 and Rs 794, respectively.

Maruti has surged 3.6% to Rs 794. Reliance Energy has soared over 3% to Rs 1,605.

Ranbaxy and Wipro have gained 1.7% each at Rs 417 and Rs 430, respectively.

Satyam and ACC have moved up 1.4% each to Rs 445 and Rs 785, respectively.

ONGC and Infosys have added 1.3% each to Rs 1,011 and Rs 1,601, respectively.

Reliance is up over 1% at Rs 2,457.

Out of 2,597 stocks traded so far, 1,772 have declined, 774 have advanced and 51 are unchanged.