The Sensex recovered from the red but has pared some of its gains. The index is now up 39 points at 16,080. The nifty is up 15 points at 4,808.

The BSE mid-cap and small-cap indices continue to outperform. The mid-cap index has jumped 1% to 6,533 while the small cap index has gained 1.4% at 8,348.

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Jaiprakash Associates has advanced 3% to Rs 132. HDFC Bank, DLF, ACC and Reliance Infrastructure moved up 1-2% each.

On the other hand, Sun Pharma dropped 1.3% to Rs 1,521. Hindustan Unilever and SBI continue to be weak and are down nearly 1% each.

The BSE market breadth is positive. Out of 2,753 stocksa traded, 1,826 have advanced while 854 have declined.

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