Sensex recovers after tumbling 400 pts at opening

Mumbai, May 23: There was a bounce back in the markets after a volatile opening and both the key indices -- BSE Sensex and NSE Nifty -- were trading flat at about 1040 hrs.

Many stocks on the Sensex and Nifty were gaining after yesterday's big losses.

The top gainers on the Sensex were Grasim Industries up by 5.29 per cent, Wipro by 2.24 per cent, Larsen&Toubro by 1.99 per cent.

Other top gainers were BHEL, Satyam Computers, Tata Power, ICICI Bank, Reliance Industries, Hindalco and ONGC.

Top gainers on Nifty were Sail, Jet Airways, Grasim Industries, Zee Telefilms and MTNL, all were up by more than five per cent.

Other top gainers were IPCL, VSNL, BHEL, Hindalco and Larsen&Toubro.

Earlier, in the opening, the markets slumped sharply after opening with the benchmark index of the BSE went down by about 400 points to 10,185 level after opening at 10,590.67 points.

After yesterday's over 1,100 points intra-day fall and 456 points loss at 10,481 points at the close, the Sensex was still quite volatile in the opening move.

NSE S&P CNX Nifty index opened lower at 3,081.15 and dipped by 2.30 per cent to a low of 3,010.50.

UNI

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