Sensex rebounds; IT index up 2%

The Sensex slipped ino the negative zone and touched a low of 16,637. The index has however rebounded and is now at 16,747, up 70 points.

The NSE Nifty is at 4,976, up 17 points.

ACC has advanced 4% to Rs 832. Bharti Airtel, Wipro and Maruti have advanced over 2.5% each to Rs 434, Rs 570 and Rs 1,554, respectively.

Hindalco, Jaiprakash Associates, Tata Power and TCS have added 2.5% each.

Reliance has slipped 4% to Rs 2,099. Tata Steel, Reliance Infrastructure and NTPC are marginally down below 1% ech.

The market breadth has turned negative, out of 2,805 shares traded, 1,548 declined and 1,163 declined so far on the BSE.

The BSE IT index is up 2% at 4,560 and the oil &gas index on the other hand is down 2.5%