Sensex marginally down; ICICI Bank rallies 5%

The Sensex is now down 37 points at 9,940 after opening 96 points higher at 10,073 following positive cues from the US markets. However, the index soon slipped into the red and to a low of 9,829 on the back of profit-taking. Thereafter, it recovered steadily on fresh buying.

Satyam has slumped 27% to Rs 165 following the Maytas deal fiasco. Yesterday the company had announced its plans to diversify into infrastructure by approving $1.6 billion investment in Maytas Infra and Maytas Properties. However, today the company called off the deal following negative feedback from the investor community.

Reliance Infrastructure and Reliance Communications (RCom) have plunged around 6.5% each to Rs 596 and Rs 218, respectively.

ACC has tumbled 4.5% to Rs 512. Jaiprakash Associates, DLF, Reliance and Hindalco are down around 2% each at Rs 86, Rs 272, Rs 1,360 and Rs 55, respectively.

ICICI Bank has rallied nearly 5% to Rs 442. Infosys has surged over 4% to Rs 1,170.

Mahindra & Mahindra has advanced 3.5% to Rs 311. Grasim and Wipro have added 3% each to Rs 1,264 and Rs 246, respectively.

HDFC Bank and ONGC are up over 2% each at Rs 1,006 and Rs 729, respectively.

The market breadth is now fairly positive - out of 2,447 stocks traded so far, 1,480 have advanced, 893 have declined and the rest are unchanged.