Sensex recovers smartly, now down just 27pts

The Sensex has recovered most of its losses and is now down 27 points at 9,681. Earlier in the day, the index opened 37 points higher at 9,746, but soon slipped into red to a low of 9,546.

Hindustan Unilever and Sun Pharma have slumped over 4% each to Rs 228 and Rs 1,065, respectively. Bharti Airtel has tumbled nearly 3.5% to Rs 605.

ITC has shed 2.7% at Rs 180. Wipro, NTPC, ONGC, TCS and SBI have slipped around 1.5% each.

Ranbaxy has soared over 6% to Rs 176. HDFC has surged nearly 5% to Rs 1,479.

DLF and Tata Power have rallied 3.5% each to Rs 173 and Rs 792, respectively.

Reliance Communications, Reliance Infrastructure, Jaiprakash Associates and Tata Steel have gained around 2% each at Rs 179, Rs 526, Rs 86 and Rs 210, respectively.

Mahindra & Mahindra, ICICI Bank and Sterlite are up over 1% each at Rs 388, Rs 336 and Rs 359, respectively.

The market breadth is extremely positive - out of 1,821 stocks traded so far, 1,300 have advanced, 467 have declined and the rest are unchanged.