Markets recover initial losses

Markets have recovered from the lows of the day. The Sensex had dropped to a low of 17,629 on opening. However, it has now recovered some of its losses and is down 70 points at 17,679.

The Nifty is down 17 points at 5,299.

The BSE consumer durables index is up 0.7% at 4,604. healthcare and power indices are marginally up.

Larsen & Toubro continues to be weak and is now down 2% at Rs 1,782.

Metal stocks are down. Sterlite and Jindal Steel have dropped 1.5% each to Rs 176 and Rs 663, respectively. Hindalco is down 1% at Rs 150.

NTPC, SBI, DLF and ACC are the other major losers in the market today.

However, Bharti AIrtel has gained 1% at Rs 265. BHEL and Maruti Suzuki have added nearly 1% each at Rs 2,452 and Rs 1,378, respectively.

BSE market breadth is positive. Out of 2,314 stocks traded, 1,342 have advanced while 862 have declined.