The market showed smart recovery in late trade, though it ended in red. The Sensex fell 432 points intraday following global weakness, but consistent domestic institutional investors support and buying in capital goods, auto and select banking stocks helped benchmark indices cut significant losses. There was some profit booking too, as market rallied more than 3 percent in previous two sessions. The 30-share BSE Sensex dropped 97.41 points to 25622.17 and the Nifty lost 30.50 points to 7788.10. However, the BSE Midcap outperformed benchmarks, up 0.65 percent. Even the market breadth improved, though it remained in favour of declines. About 1482 shares declined against 1122 shares advanced on the Bombay Stock Exchange compared to 5:1 ratio in favour of declines in morning trade.
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