Sensex rebounds; Oil & Gas, PSU lead

The Sensex has rebounded and erased all of its losses owing to buying in the oil & gas, PSU and power stocks.

The index is now at 14,331, up three points.
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Updated at 1353 Hrs:

The Sensex recovered and managed to touch a high of 14,294. The index has again slipped and is now at 14,169, down 156 points.

ICICI Bank has shed 5.3% to Rs 688. HDFC Bank, Hindalco and Sterlite have slumped 4.5% each to Rs 1,469, Rs 80 and Rs 568, respectively.

DLF, Larsen & Toubro and ITC have slipped over 3.5% each to Rs 311, Rs 1,458 and Rs 196, respectively.

Jaiprakash Associates, Tata Steel, Reliance Communiations, Reliance Infrastructure, ACC and Maruti are down 1-3% each.

NTPC, Tata Motors and ONGC have gained over 2% each at Rs 195, Rs 341 and Rs 1,015, respectively.

Reliance, Sun Pharma, Tata Power, TCS, SBI and Grasim are up 1-2% each.

The BSE Realty index is down 4% to 3,082.

The market breadth is negative- out of 2,471 shares traded, 1,689 have declined and 718 have advanced so far on the BSE.