Indices have shed most of its early gains as select frontline stocks have come under pressure. Markets across Asia, except Thailand, have rallied in morning trades despite the recovery in crude oil prices.

Sensex opened at 14218 and touched a high 14259. The index is trading higher by 11 points at 14193 at 11.10 AM.

Nifty opened at 4090 and touched a high of 4114 before giving up most of the gains. The index is now trading higher by 3 points at 4093.

Satyam Computers has slipped further on the disappointment over its results. The stock has slipped nearly 3.5 per cent after losing 5 per cent on Friday.

Dabur, which saw a major rally last week, is the worst performer with losses of over 3.5 per cent. ITC has lost a per cent.

The recovery in crude oil has led to a 2 per cent fall for HPCL.

Siemens has shed close to 2 per cent after last week's rally.

Among cement stocks, Gujarat Ambuja has slipped over a per cent and Grasim has lost nearly a per cent.

HDFC Bank has also corrected after last week's gains and is down nearly 1.5 per cent.

M&M remains weak and has lost another per cent.

Reliance Energy has lost nearly 1.5 per cent.

Jet Airways is the best performer among index stocks after the company said load factor for the first two months of the current quarter would be quite good. The company also expects the fuel bill for the quarter to be much lower and the stock is trading nearly 3.5 per cent higher.

Among engineering and capital goods stocks, BHEL has added more than a per cent while L&T and Suzlon have added over 0.5 per cent each.

Zee Tele is continuing the rally and has added another 2 per cent.

SAIL is also sustaining the up trend and is trading more than 1.5 per cent higher.

Among telecom stocks, VSNL has added over a per cent and MTNL is trading nearly a per cent higher.

Dr Reddy's and Sun Pharma have added close to a per cent each.

Mid-caps and small caps are doing better than large caps in early trades, though the NSE index is down. The NSE mid-cap index is now trading with losses of close to 0.15 per cent. BSE mid-cap index has gained 0.35 per cent and the BSE small-cap index is trading with gains of over 0.4 per cent. Market breadth on the NSE is modestly positive in early trades.

Alchemist Limited, which listed on the NSE today, is trading at Rs37.65.

Navabharat Ventures, SKM Egg, Indo-Tech Transformers, AVT Natural, Deepak Fertilisers, Dolphin Offshore, Ceat Limited and GM Breweries are among the major mid-cap gainers.

Plastiblends, Kabra Extrusion, BAG Films, Indo-Rama, Texmaco, Nisan Copper, X Pro India, Cybertech and Gujarat Ambuja Exports are the major mid-cap losers.