Sensex recovers most of Tuesday's losses; heavyweights lead

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AT 13:16 hours IST - consistent buying in heavyweights like technology, realty, FMCG, oil & gas exploration, private banking and metal stocks helped the Sensex to extend gains and recovered more than 4/5th of Tuesday's losses. The Nifty held above the 4650 level.

Heavyweights like Reliance Industries, Infosys, ICICI Bank and DLF gained 4-6%. Jaiprakash Associates, Unitech, Hindalco, Ranbaxy Labs, Tata Steel and Sterlite Industries were up 4-7%.

The Sensex was trading at 15,781, up 376 points and the Nifty was at 4,669, up 105 points. The benchmark indices were underperforming the broader indices, which were up just 1-2%. Advances were outnumbering declines; about 1,633 shares advanced while 1,313 shares declined on the NSE. Nearly 817 shares were unchanged.

However, in the largecaps, Suzlon Energy tumbled 4.38%. Tata Power, Idea Cellular, Reliance Communication, Sun Pharma, BHEL, Grasim and Sun Pharma declined 0.5-1.5%.

On the global front, Asian markets moved up further. Hang Seng, Kospi and Taiwan Weighted were up 2% each. Jakarta rose 1% and Straits Times gained 0.9%. Shanghai and Nikkei were up over 0.4%.

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