At 12:11 hours IST, the Sensex showed smart recovery but was still volatile. It recovered 244 points and Nifty 73 points from day's low. Buying in heavyweights Reliance Industries, Bharti Airtel, L&T and Wipro managed to wipe out losses. Tata Motors, M&M, Jindal Steel, TCS, Cipla, Ranbaxy Labs, ABB, Infosys, Idea Cellular and Hindalco were the other gainers.

However, selling continued in banking, metal, realty and power companies’ shares, and in stocks like ITC, ONGC, Reliance Communication, Maruti, Sun Pharma, Hero Honda and BPCL.

The Nifty turned back above 4,850 level, which increased just 10 points to 4,857 and the Sensex was up 26 points at 16,379. The broader indices also recovered from the day's low and were trading flat. The Nifty November future was trading with 14-15 points premium. The market breadth was negative; about 488 shares advanced while 737 shares declined on the NSE.

In the largecaps, Bharti Airtel shot up 4.58%. Tata Motors, L&T, Wipro, Reliance Industries, M&M and Ranbaxy Labs gained 2.5-3.5%. However, Maruti Suzuki, Sterlite Industries, Sun Pharma, HDFC Bank, ITC, Suzlon Energy and SAIL went down 2% each.

Most active shares on the bourses were Thinksoft, Reliance Industries, SBI, Sesa Goa, ICICI Bank, Unitech and Tata Steel.

In the midcap space, Kansai Nerolac, Balrampur Chini, Alfa Laval, Ipca Labs and BF Utilities gained 5-7% while Everest Kanto, KGN Industries, Sintex India, Puravankara Projects and Asian Star fell 4-11%.

In the smallcap space, Hexaware Tech shot up 13.59%. Agro Tech Foods, KRBL, Shriram EPC and Lakshmi Machine moved up 6.5-7% while Hatsun Agro, TIL, Bartronics, Kanani Industries and Rollatainers declined 5-12%.

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