Market recovers but Sensex, Nifty still down 1%; banks div
The Sensex is down 277.68 points or 1 percent at 25987.56, and the Nifty slips 87 points or 1 percent at 7866.50. About 1110 shares have advanced, 1067 shares declined, and 92 shares are unchanged.
Sun Pharma is still reeling under pressure, down 4 percent. BHEL, Dr Reddy's Labs, ICICI Bank and Wipro are among losers in the Sensex. SBI, Tata Motors and Maruti are only green stocks in the Sensex.
Oil prices rebounded in Asia but stayed below USD 45 a barrel as gains were limited by a strong dollar and data showing a decline in Chinese crude imports. A bullish US jobs market report last week sent the dollar higher, which would make dollar-priced oil more expensive for holders of weaker currencies, hurting demand and prices.
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