Markets flat; M&M rallies 4%; Sterlite sheds 7%

The Sensex dipped to a low of 14,529, and has rebounded into the positive zone. The index is now up flat at 14,578.

The NSE Nifty is down two points at 4,393.

Mahindra & Mahindra has rallied nearly 4% to Rs 540. Tata Motors has advanced 2% to Rs 404, and Maruti has added 1% to Rs 577.

HDFC Bank has surged 3.5% to Rs 1,147. ICICI Bank has moved up 2.3% to Rs 655, and SBI has advanced 2% to Rs 1,538.

Hindustan Unilever has gained 2% at Rs 239. ACC is up 1% at Rs 592.

Sterlite has slumped 6.6% to Rs 583. Tata Steel has plunged 5% to Rs 658.

Tata Power and Ranbaxy have dropped over 2% each to Rs 1,096 and Rs 513, respectively.

Jaiprakash Associates and Reliance have slipped nearly 1.5% each to Rs 172 and Rs 2,211, respectively.

Infosys and Hindalco are down over 1% each at Rs 1,635 and Rs 141, respectively.

Out of 2,559 stocks traded so far, 1,512 have advanced, 981 have declined and the rest are unchanged.