L&T leads market recovery

The Sensex has recovered over 200 points from the day's low, and is now down 228 points at 16,766. Capital Goods stocks led by Larsen & Toubro continue to lead the recovery.

The NSE Nifty is down 60 points at 5,033.

The market breadth, however, remains fairly negative - out of 2,829 stocks traded so far, 1,934 have declined and 822 have advanced.

Larsen & Toubro has rallied nearly 3% to Rs 1,572 after reporting strong Q4 numbers. The company's net rose 44% to Rs 1,438 cr for the quarter ended March 31, 2010.

Hindustan Unilever has advanced 1.5% to Rs 237. Hindalco and Bharti Airtel are the only other gainers among the Sensex stocks.

DLF and Reliance Infrastructure are still down over 4% each at Rs 286 and Rs 984, respectively.

Wipro, ACC and Tata Motors have tumbled over 3% each to Rs 645, Rs 863 and Rs 790, respectively.

Jaiprakash Associates and TCS have declined over 3% each to Rs 126 and Rs 741, respectively.

Reliance, Tata Steel, Infosys, BHEL, Reliance Communications and ONGC are the other prominent losers.