Sensex rebounds, up 38pts; Sterlite drops 5%

The Sensex opened 15 points lower at 14,563, touched a low of 14,535 and soon rebounded into the positive zone. The index is now up 38 points at 14,616.

The NSE Nifty is up 11 points at 4,406.

Sterlite has plunged 4.5% to Rs 596.

Tata Steel and Infosys have dropped 1.3% each to Rs 682 and Rs 1,634, respectively.

Wipro and ICICI Bank are down 1% each at Rs 426 and Rs 634, respectively.

Ranbaxy has rallied nearly 2% to Rs 534.

BHEL, DLF, Reliance Infrastructure and Jaiprakash Associates have surged 1.7% each to Rs 1,745, Rs 523, Rs 1,019 and Rs 177, respectively.

Hindalco and HDFC Bank have gained 1.5% each at Rs 144 and Rs 1,125, respectively.

ACC has moved up 1.3% to Rs 594. ONGC, NTPC, Tata Power and Reliance Communications are up 1% each at Rs 992, Rs 177, Rs 1,130 and Rs 443, respectively.