Markets pare their losses

The markets are on a recovery path as the situation in the European markets are improving. The Sensex is up 77 points at 18,283 and the Nifty had gained 23 points and is at 5,495. The midcap index has improved at 0.9% while the smallcap index is stable at 1%.The banchmark index continues to underperform at 0.4%.

There is no change in the line up at the top of the BSE sectoral chart.Consumer Durables up 1.5% continue to lead followed by the Auto index which extended gains and is up 1%.the PSU index has moved into the positive but Tecjk and IT continue to remain at the bottom ogf the chart in the red.

Top gainers on Sensex are Jaiprakash Associates, has risen 3.7% to Rs 114, and Sterlite Industries has risen 2.8% to Rs 161, and Tata Motors Tata Power are up over 2% each at Rs 1030 and Rs 1263 each.

Top losers on Sensex are Hero Honda, down 2.25% to Rs 1719 followed by TCS, down 1.08% to Rs 847 and BHEL, down 0.87% to Rs 2402

Market breadth is positive, for 1922 advancing stocks, 978 stocks are declining.