Markets show recovery; Sensex up 1600 points
22 Jan 2008
The markets are again showing smart recovery with Sensex recovering nearly 1600 points from the day's low. Nifty has recovered 500 points from the day's low. Europe has also shown good recovery and London's FTSE is trading in the green.
The. Sensex has bounced back and is up over 17,000 mark. The NSE Advance : Decline ratio at 1:30. Nifty after breaching 4500 mark is trading above 4900 levels.
At 2.50 in the afternoon (IST), the Sensex was down 652.68 points or 3.71 per cent at 16952.67, and the Nifty down 247.65 points or 4.75 per cent at 4961.15.
About 219 shares have advanced, 2724 shares declined, and 39 shares are unchanged.
Idea had a smart pullback and is up 2 per cent, SBI up over 1 per cent, Nalco is up 4 per cent, Sesa Goa up 7 per cent. ONGC, Sun Pharma, Ranbaxy are the top losers down over 9 per cent each. Tata Steel, Satyam, PNB, Maruti, Cipla and HUL were the top losers among the index counters.
However, Bharti Airtel, GAIL, Infosys, Suzlon, Grasim were providing some support at the lower levels.
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