Sensex rebounds, up 160pts; M&M rallies 7%

After opening with a positive gap of 290 points at 9,298, the Sensex has pared gains on the back of profit-taking at higher levels. A heavey bout of selling saw the index slip into red to a low of 8,894.

The Sensex, however, has rebounded into the positive zone and is now up 160 points at 9,168.

Mahindra & Mahindra (M&M) has zoomed over 7% to Rs 300. HDFC has soared 5% to Rs 1,626.

TCS has moved up 3.6% to Rs 560. BHEL and Infosys have rallied 3.3% each to Rs 1,184 and Rs 1,321, respectively.

ICICI Bank has advanced nearly 3% to Rs 345. Reliance and Jaiprakash Associates are up around 2% each at Rs 1,178 and Rs 61, respectively.

Maruti has plunged 4.5% to Rs 524.

Hindustan Unilever, Satyam and Ranbaxy have tumbled over 3% each to Rs 211, Rs 290 and Rs 186, respectively.

Tata Motors and Reliance Communicaitons have slipped around 2% to Rs 152 and Rs 212, respectively.

DLF and Grasim are down 1.5% each at Rs 215 and Rs 1,014, respectively.