Markets recover on US futures

Markets have recovered from the early lows and is now on the verge of breaking into the green.

The Sensex opened to touch a low of 17,856 but has now maanged to recover on higher US futures. The index is now flat at 17,948.

The Nifty is down three points at 5,391.

BSE IT index has dropped on weak economic data in the US. The index has slipped 1% to 5,416. BSE Realty index is also down in trades.

Reliance Communications has gained 2.2% at Rs 191. HDFC Bank and HDFC have added over 1% each to Rs 2,062 and Rs 3,054, respectively.

Bharti Airtel and Mahindra & Mahindra have advanced nearly 1% each. Larsen & Toubro and Tata Steel are also in green.

However, DLF has dropped 1.5% to Rs 315. IT major, Infosys, has slipped 1% to Rs 2,749.

ICICI Bank has declined over 1% to Rs 892. Sterlite, Hero Honda, Tata Motors and TCS have also declined this morning.

BSE market breadth is positive. Out of 2,430 stocks traded, 1,436 have advanced while 911 have declined.