Sensex rebounds, up 54pts; breadth -ve

The Sensex slipped to a low of 20,756 - down 322 points from the peak of 21,078 touched earlier in the day. The index has now rebounded into the positive zone and is now up 54 points at 20,867.

HDFC Bank and SBI have soared 3% each to Rs 1,708 and Rs 2,474, respectively.

Bharti Airtel and ONGC have surged 2.5% each to Rs 960 and Rs 1,331, respectively.

Reliance Communications, Mahindra & Mahindra and Satyam have advanced over 1% each to Rs 799, Rs 820 and Rs 418, respectively.

NTPC and Grasim have plunged over 2% each to Rs 263 and Rs 3,440, respectively.

Hindalco and ICICI Bank have slipped nearly 2% each to Rs 213 and Rs 1,338, respectively.

Tata Steel has dropped 1.3% to Rs 914. Tata Motors and Reliance Energy are down 1% each at Rs 779 and Rs 2,560, respectively.

The market breadth is extremely negative - out of 2,856 stocks traded so far, 2,193 have advanced, 640 have declined and 23 are unchanged.