Sensex recovers 56 pts after weak start

The benchmark BSE Sensex recovered by 56 points after weak opening today amid bouts of short- covering and value buying in metal, capital goods, oil & gas, power, realty, auto and banking sectors despite weak Asian markets.
Shares of mid-cap and small-cap were trading higher, while consumer durable, IT and teck sectors incurred selling.
The 30-share index Sensex resumed lower at 26,429.30 and moved between to 26,578.55 and 26,351.27.
It quoted 26,524.35 points at 1010 hours, up by 55.99 points or 0.21 per cent from its last close.
The NSE 50-share barometer Nifty also traded lower by 16.15 points or 0.20 per cent to 7,928.00 at 1010 hours.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a Rs 851.24 crore yesterday, as per the provisional data issued by stock exchanges.

Major gainers were Hindalco (3.31 pc), ONGC (2.05 pc), Tata Steel (1.97 pc), SunPharma (1.91 pc) M&M (1.63 pc) and L&T (1.59 pc).
Asian stocks traded lower with Japanese shares retreating from a six-year high, after the Standard & Poor's 500 Index dropped the most in almost two months overnight.
Key benchmark indices in Indonesia, Japan, South Korea, Hong Kong, Taiwan and Singapore fell 0.06 to 1.36 per cent while China's Shanghai Composite rose 0.03 per cent.