Indices continue to be volatile in early trades but have recovered from their early lows. Other Asian markets are mixed, following the modest losses for US indices yesterday.

Sensex opened at 13314 and declined to a low of 13182 before recovering. The index is trading higher by 16 points at 13356 at 11.10 AM.

Nifty opened at 3816 and slipped to a low of 3769 before climbing back. The index is now trading higher by 9 points at 3825.

Select auto stocks are doing well in early trades. M&M is continuing the up trend and is the best performer with gains of over 2.5 per cent. Tata Motors has recovered from a 2-day decline and has gained over 1.5 per cent.

Hero Honda has added nearly 1.5 per cent and Bajaj Auto is trading more than a per cent higher.

Reliance Communications has resumed the rally and has added nearly 2 per cent. VSNL has gained close to 1.5 per cent.

Reliance Energy has recovered after the recent losses and has added nearly 2.5 per cent.

IPCL, Nalco and HLL are the other major gainers.

Select technology stocks are weak in early trades. Satyam has lost over a per cent and Infosys is down nearly a per cent.

Zee Entertainment is the worst performer among index stocks, down more than 1.5 per cent.

Jet Airways remains weak and has lost another per cent.

HPCL is down more than a per cent on rising crude oil prices.

Maruti has corrected nearly a per cent after gaining yesterday.

HDFC has lost a per cent and HDFC Bank is down more than 0.5 per cent.

Bharti and L&T are the other losers.

Mid-caps and small caps have also gained in morning trades. The NSE mid-cap index is now trading 0.45 per cent higher. BSE mid-cap index is trading with gains of nearly 0.55 per cent and the BSE small-cap index has added over 0.5 per cent. Market breadth on the NSE is modestly positive in early trades.

Great Offshore, the de-merged offshore services division of GE Shipping, listed on the exchanges today. The stock saw a high of Rs798 per share and is now trading at Rs727.5.

Tech Mahindra has surged over 15 per cent on reports of a $1 billion outsourcing order from BT.

Goldstone Technologies is locked on the upper circuit for the 9th straight session. GKW and Kopran are also on the 10 per cent upper circuits.

Trigyn, Pudumjee Pulp, RS Software, RK Forge and Eimco are among the major mid-cap gainers.

i-Flex Solutions has slumped nearly 8 per cent on reports that Oracle may not accept all the shares tendered in the open offer.

Matrix Labx, Atlanta, Tricom, Aarvee Denim and Sonata Software are the major mid-cap losers.