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Sensex recovers partially; Tata Steel sheds 4%

The Sensex has erased most of its losses and is now at 17,158, down 68 points. The index has recovered 113 points from the day"s low. The NSE Nifty is at 5,122, down 25 points. Among the sectoral indices, metal index is down 1.5% at 16,390.89, it was followed by bankex, down 1% each. Negative view on state-run oil cos: Fitch Jan cement sales in high double-digit Tata Steel is the major dragger on the Sensex, down 4% at Rs 546 and Hindalco has slipped 3.5% to Rs 141, respectively. Sterlite has dropped 3% at Rs 838. HDFC Bank, HDFC, Reliance Infrastructure and ICICI Bank have declined 1-2% each. Hero Honda is the top gainer on the BSE, up 2% each at Rs 1,700 and Maruti is up 1% at Rs 1,589, respectively. The other margianl gainers include TCS, sun Pharma and BHEL, UP 0.5% each. The market breadth remains positive, out of 2,774 shares traded, 1,443 have advanced and 1,243 have declined so far on the BSE.

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