Markets rebound into positive zone

The markets have rebounded into the positive zone.

The Sensex  is up 17 points at 17,142. The Nifty is up seven points at 5,119.
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(Updated at 1205 hrs)

The markets are exhibiting rangebound movement for the last one-hour or so. The Sensex is now down 67 points at 17,058. The Nifty is down 20 points at 5,092.
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(Updated at 1110 hrs)

The Sensex has recovered partially from the day's low at 17,032, and is now down 37 points at 17,088.

The NSE Nifty is down 10 points at 5,102.

Telecom majors are moving up smartly this morning. Reliance Communications and Bharti Airtel have both advanced over 2% each to Rs 186 and Rs 338, respectively.

Hindalco has gained 1.5% at Rs 144. Tata Steel and BHEL are up 1% each.

Hero Honda and HDFC Bank have slipped around 1.5% each to Rs 1,676 and Rs 1,781, respectively.

Grasim and Hindustan Unilever are down around 1% each.