Sensex up 48pts; ITC slips 2%

The Sensex has erased most of its gains, and is now up 48 points at 10,857.

Earlier in the day, the opened with a positive gap of 46 points at 10,855, and had rallied to high of 10,992.

HDFC has advanced 3.7% to Rs 1,215. Satyam, Larsen & Toubro and Hero Honda have rallied over 2% each to Rs 696, Rs 2,415 and Rs 844, respectively.

Tata Power has added 1.6% to Rs 505, and Tata Steel is up 1.3% at Rs 545.

ITC has dropped nearly 2% to Rs 180. NTPC and Bharti Airtel have slipped over 1.5% each to Rs 115 and Rs 381, respectively.

Bajaj Auto and Gujarat Ambuja are down nearly 1% each at Rs 2,890 and Rs 98, respectively.

Out of 2,394 stocks traded so far, 1,370 have advanced, 957 have declined and 67 are unchanged.