Sensex up 35pts; Dr.Reddy's slips 2%

The Sensex is now up 35 points at 12,497.

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.

Tata Steel has surged 2.6% to Rs 661. ONGC has rallied 2.3% to Rs 1,411.

Satyam, HDFC and Tata Motors have moved up 1.4% each to Rs 794, Rs 1,360 and Rs 976, respectively.

Dr.Reddy's has dropped 2% to Rs 1,650. Bharti Tele has slipped 1.5% to Rs 416.

HDFC Bank and ITC are down 1% each at Rs 860 and Rs 206, respectively.

Out of 2,576 stocks traded so far, 1,415 have advanced, 1,102 have declined and the rest are unchanged.