Markets in recovery mode

The markets have recovered most of its losses in mid-morning trades. The Sensex is now down 35 points at 17,545. The NSE Nifty is down 17 points at 5,246.
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(Updated at 1005 hrs)

Select IT, pharma stocks move up while banks and realy stocks continue to exhibit weakness

The markets have recovered partially owing to select buying in IT and pharma stocks. However, realty stocks have extended losses, and banking too continue to trade weak post RBI rate hike.

The Sensex after touching a low of 17,337, is now at 17,508, down 70 points. The BSE Realty index has plunged 1.8% to 3,281, and the Bankex has declined 1.1% to 10,318.

The NSE Nifty is down 27 points at 5,235.

Jaiprakash Associates has shed 2.3% at Rs 150. ICICI Bank, Mahindra & Mahindras and DLF have dropped around 2% each to Rs 936, Rs 1,052 and Rs 307, respectively.

HDFC and Reliance Infrastructure have slipped over 1.5% each to Rs 2,648 and Rs 1,009, respectively.

SBI, Sterlite, Maruti, Hindalco and Larsen & Toubro are down around 1% each.

Bharti Airtel has moved up 1.5% to Rs 316. TCS and Wipro too are up around 1% each.