European markets help Sensex recover partially

The Sensex has recovered partially around 100 points from the day's low owing to a marginally lower opening of the european bourses.

The Sensex is now at  16,665, down 339 points and the NSE Nifty is at 92 points down at 5,001.
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(Updated at 1155hrs)

The markets have slumped further into the red following persistent weakness in the Asian markets. The Shanghai Composite Index and the Nikkei index are down 3% and 2%, respectvely.

The NSE Nifty is below is 200-DMA and is now trading at 4,971, down 121 points. The Sensex has declined 420 points at 16,574.

Among the Sensex-30 stocks, Reliance Infrastructure and DLF have declined 5% each to Rs 971 and Rs 284, respectively. DLF has cracked owing to a 61% fall in FY10 net.

Wipro, Tata Motors, Jaiprakash Associates, Tata Steel and BHEL have dropped over 3.5% each at Rs 639, Rs 785, Rs 125, Rs 529 and Rs 2,280, respectively.

The other major losers are SBI, ACC, Larsen & Toubro, Reliance Industries, TCS and Infosys, down over 2.5% each.

There are still no gainers on the BSE.

The market breadth is extremely negative, out of 2,633 shares traded, 1,969 have declined and 587 have advanced so far on the BSE.

The BSE midcap and the smallcap indices are down 1.5% each. Lakshmi Overseas and Visal Info are the main losers on the smallcap index , down 7% and 6%, respectively.

All the sectoral indices are in red and realty index is the major dragger, down 3%. It is followed by bankex, IT and oil&gas indices, down 2-3% each.