Markets have recovered considerably. The Sensex is now down just 34 points at 16,747. The Nifty is down eight points at 4,978.
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(Updated at 1015 hrs)
The Sensex today opened with a negative gap of 85 points at 16,634. It slipped to a low of 16,494 but has now managed to recover some of its losses. The index is now down 107 points at 16,675.
The Nifty is down 28 points at 4,958.
Metal stocks, Hindalco and Sterlite have shed 2% each to Rs 127 and Rs 748, respectively. ICICI Bank and Bharti Airtel have dropped 1.5% each to Rs 849 and Rs 414, respectively.
HDFC, Tata Motors, Reliance Infrastructure, Tata Steel and TCS have slipped 1% each.
However, Mahindra & Mahindra has gained 2.2% to rs 880. NTPC has added 1% to Rs 214.