Sensex down 48pts; ITC surges 2%

The Sensex has recovered most of its losses and is now down 48 points at 19,737.

Satyam has shed 2.3% at Rs 419. Ranbaxy has slipped 2% to Rs 415.

ICICI Bank and HDFC Bank have declined 1.8% each to Rs 1,226 and Rs 1,669, respectively.

HDFC and Tata Steel have dropped 1.5% each at Rs 2,680 and Rs 849, respectively.

Infosys and Wipro are down 1% each at Rs 1,635 and Rs 452, respectively.

ITC has surged over 2% to Rs 194. Dr.Reddy's has advanced 1.3% to Rs 608.