Sensex recovers, down 31pts; HDFC Bk up 2%

The Sensex has recovered smartly from the day's low of 16,677, and is now down 31 points to 16,815.

Mahindra & Mahindra has dropped 2.3% to Rs 766. Larsen & Toubro, SBI, Bajaj Auto and NTPC have slipped around 1.8% each to Rs 2,843, Rs 1,800, Rs 2,528 and Rs 193, respectively.

Reliance Energy and Reliance Communications have shed 1.5% each to Rs 1,078 and Rs 590, respectively.

BHEL, Tata Steel, Ambuja Cements, ICICI Bank and Wipro are down over 1% each.

HDFC Bank has rallied over 2% to Rs 1,376.

Hindalco and Bharti Airtel have surged 1.7% each to Rs 166 and Rs 961, respectively. Hindustan Unilever has advanced 1.5% to Rs 227.

Cipla and Satyam have gained 1.3% each at Rs 170 and Rs 415, respectively.

Out of 2,790 stocks traded so far, 1,762 have declined, 978 have advanced and 50 are unchanged.