Markets slip after brief recovery

Markets have once again slipped sharply. The Sensex is now down 196 points at 16,086.

The Nifty is down 70 points at 4,756.
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(Updated at 1411 hrs)

Markets have recovered considerably from the lows of the day.

The Sensex is now down just 71 points at 16,211. The Nifty is down 21 points at 4,805.

Sun Pharma has added 2.5% to Rs 1,411. ONGC and Hindustan Unilever have moved up 2% to Rs 1,160 and Rs 284, respectively.

HDFC, Tata Power and ITC are up 1.5% each. Grsim has advanced 1% to Rs 2,174.

Meanwhile, DLF and  Reliance Communications continue to languish in red and are now down 4% each at Rs 386 and Rs 195, respectively.

BHEL, Jaiprakash Associates, Sterlite, and Tata Motors have dropped 2.5% each.

The other losers in the index include Hindalco, Mahindra & Mahindra, Tata Steel and Bharti Airtel.

The market breadth continues to be negative. Out of 2,643 stocks traded 1,803 have declined while 770 have advanced.