Markets recover as Reliance gains

Markets have recovered from the day's low on the back of gains in market heavyweight, Reliance. However the Sensex is trading down 23 points at 20,197.

Earlier in the day, the index had touched a low of 20,135. However, the index recoevred on buying in consumer durables, auto and metal stocks.

Nifty is down 20 points at 6,061.

The BSE consumer durables index is up 1.2% at 6,670. Gitanjali Gems, Titan Industries, Rajesh Exports and Whirlpool are the top gainers in the sector.

However, realty index is down 0.5% at 3,799.

Raymond has touched a new 52-week high of Rs 458 on strong Q2 numbers. The stock is up 2% at Rs 446. However, quarterly results of Tech Mahindra and NTPC have dampened investor sentiments. The stocks are down 1.5% and 2.5%, respectively.

Mahindra & Mahindra is the top Sensex gainer - up 2% at Rs 731. Reliance has jumped 1.2% at Rs 1,109.

Metal stocks - Hindalco, Tata Steel and Sterlite have recovered from their lows and are now trading up around 1% each.

SBI is up 1% at Rs 3,211. Wipro, Tata Motors, Reliance Communications and TCS are in the green.

Meanwhile, HDFC has shed 1.5% at Rs 687. Bharti Airtel and ICICI Bank are down 1% each at Rs 325 and Rs 1,120.

ONGC, ACC, Larsen & Toubro, Infosys and Maruti Suzuki are among the losers.

BSE market breadth is marginally positive. Out of 2,849 stocks traded, 1,525 have advanced while 1,213 have declined.