Sensex recovers after 211 pts fall in opening move

Mumbai, May 12: The key indices of the premier stock exchanges today dipped sharply in the opening move, BSE Sensex dipped 211 points to a low of 12,224 and NSE Nifty dipped to a low of 3,633 with a loss of 78 points. Earlier, the Bombay Stock Exchange's (BSE) sensitive index opened 35 points lower at 12,400 as compared to the last close of 12,435.

The National Stock Exchange (NSE) S&P CNX Nifty index opened higher at 370 as compared to the last close of 3,701.

Sensex overcame part of the losses by 1025 hrs trading at 12,370 with loss of 65 points, while NSE Nifty traded at 3,674 with a loss of 27 points.

The index heavy weight Reliance Industries and ONGC were down by 1.40 per cent and 1.20 per cent, respectively, causing much damage to the key indices of both BSE and NSE.

Other significant losers were ICICI Bank, Bharti Tele, TCS, HDFC, HDFC Bank, ACC, ITC and Infosys Tech.

The main gainers on the Sensex were Hindalco, Dr Reddy's Lab, Tata Steel, Larsen&Toubro, Maruti, Bajaj Auto, NTPC, Cipla, Grasim Industries and Reliance Energy.

UNI