Markets await RIL-RNRL verdict

The Sensex has recovered somewhat from its low. The index is now down 182 points at 16,805. The Nifty is down 62 points at 5,028.

Eyes are on the RIL-RNRL verdict which is likely to come out later in the day.

The BSE oil & gas has rebounded and is marginally in green at 9,757. All other indices are in red, with realty and bankex leading the fall.

The BSE mid-cap and small-cap indices have underperformed the Sensex. The indices have dropepd 1.7% each to 6,900 and 8,817, respectively.

Market heavyweight, reliance, has managed to recover most of its losses ahead of the Supreme Court verdict. The stock is flat st Rs 1,007.

Sterlite has tumbled 3% to Rs 719. Other metal stocks- Hindalco and Tata Steel have dropped 2% each to Rs 161 and Rs 2,258, respectively.

Tata Motors has shed 2.4% at Rs 793.

Jaiprakash Associates has slipped 2.5% to Rs 130. SBI, HDFC Bank and Tata Power are down 2% each.

DLF and ICICI Bank have declined 2% each to Rs 292 and Rs 885, respectively.

Wipro, Reliance Communications, Larsen & Toubro, BHEL, ACC and TCS are down over 1% each. Other losers include Mahindra & Mahindra, Bharti Airtel, HDFC and ITC.

Meanwhile, Hindustan unilever has gained 1% at Rs 235.

NTPC and ONGC have added marginally at rs 205 and Rs 1,048, respectively.

BSE market breadth s fairly negative. Out of 2450 stocks traded, 1,906 have declined while 491 have advanced.