After opening in red with a marginal gap, the benchmark index slid below the level of 15K once and then bounced back to touch the early high on the alternate bouts of buying and selling in select pivotals. Nifty was trading with a positive gap of 35 points at 4,553 in the mid-morning trade, after opening almost on flat note in the early morning.
Key benchmark indices witnessed volatile movement amid mixed global cues. IT pivotals were in demand and banking stocks sustained the gains. HDFC advanced over 3 per cent. The market breadth was positive.
Housing Development Finance Corporation surged by 3.10 percent to Rs 2,470, on reports that the company is in talks with GE Money to buy the latter's Indian home loan business. It was the top gainer from the Sensex pack.
Reliance Infrastructure gained by 1.78 per cent to Rs 1,029, HDFC Bank up by 1.52 per cent to Rs 1,235.25 and Maruti Suzuki India up by 1.26 per cent to Rs 661.
IT pivotals surged on fresh demand, with Infosys up by 1.31 per cent to Rs 1,721.20, Wipro by 0.84 per cent to Rs 457.20 and TCS marginally up at Rs 859.70.
However, Bharti Airtel lost 2.55 per cent to Rs 847.50. It was the top loser from Sensex pack. The company yesterday said it would launch Apple Inc's third-generation iPhone in India on 22 August 2008.