Markets tepid in late-afternoon trades

The Sensex is quoting at 16,814, lower by 45 points, and the Nifty is at 5,018, down 17 points. 
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(Updated at 1416 pm)

The Sensex has erased most of its losses and has recovered almost 160 points from its low of 16,705. The Sensex is now at 16,850, down eight points.

The NSE Nifty is at 5,028, down seven points. 
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(Updated at 1343hrs)

The Sensex continues to move in the red and is now at 16,792, down 68 points from its previous close. The NSE Nifty is at 5,008, down 28 points. 

The BSE realty index has declined 2% to 3,685 and IT index is down 1%, respectively.

Among the Sensex-30 stocks, Jaiprakash Associates and DLF are down 2.5% each at Rs 143 and Rs 345, respectively.

HDFC Bank, Infosys and Tata Steel have declined 1% each.

HUL and Bharti Airtel have topped the list of gainers, up 2% each at Rs 263 and Rs 327, respectively.

Larsen & Toubro, ITC and Maruti are firm, up 1% each.

The market breadth remains negative, out of 2,814 shares traded, 1,521 have declined and 1,218 have advanced so far on the BSE.