Markets recover losses; IT index up 1%

The Sensex after moving in the negative terrain for quite some time has rebounded into the green on the back of buying in the IT shares. The Sensex is now at 16,898, up 21 points.

Among the Sensex-30 stocks, Tata Motors has advanced 2% to Rs 703. Bharti Airtel, Sun Pharma and Mahindra & Mahindra have added 1% each at Rs 321, Rs 1,466 and Rs 1,028, respectively.

Jaiprakash Associates, HDFC Bank and SBI have slipped 1.5% each to Rs 219, Rs 1,679 and Rs 2,154, respectively.

The market breadth is negative, out of 2,591 shares traded, 1,321 have declined and 1,182 have advanced so far on the BSE.

Among the sectoral indices, IT index is firm, up 1% at 5,000. On the other hand realty, oil & gas and bankex indices have slipped down 0.5% each.