Sensex recovers by 65 pts after hitting 17-week lows

The BSE benchmark sensex resumed lower at 16,123.04 and hovered in a range of 16,297.96 and 16,123.04 before quoting at 16,280.80 at 1100 hours, showing a gain of 64.96 points, or 0.04 per cent, from its last close.

The NSE 50-share Nifty also moved up by 20.95 points of to 4,928.75 at 1100 hours.

India's largest engineering & construction firm by sales L&T extended Monday's gains by rising 4.20 per cent triggered by strong fourth quarter results.

Other gainers were Wipro (1.32 pct), Cipla (1.30 pct), Hero Motocorp (1.09 pct), Jindan Steel (0.94 pct) and ICICI Bank (0.85 pct).

However, Maruti Suzuki dropped by 2.08 pct followed by NTPC 1.32 pct, M&M 1.27 pct, Tata Motor 0.95 pct and Coal India 0.87 pct.

Foreign institutional investors (FIIs) bought shares worth Rs 355.10 crore yesterday as per provisional figures from the stock exchanges.

Asia stocks were mostly lower in the early trade amid increasing concerns over Greek exit from the euro zone, despite the region's finance leaders declaring they weren't considering that possibility.