Mumbai, Jan 22 (IANS) A benchmark index of Indian equities recovered from its morning low around noon Friday on the back of gains in heavyweight scrip Reliance Industries. But it was still about 84 points in the red.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,978.36 points, was at 16,966.8 points, down 84.34 points or 0.49 percent from its previous close at 17,051.14 points.

It had slipped over 443 points, about an hour after the opening bell.

Around the same time, at the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 5,074.45 points, against the previous close at 5,094.15 points, a loss of 0.39 percent.

Broader markets were also hit by selling pressure, with the BSE midcap index down 1.06 percent and the BSE small cap index trading 1.18 percent lower.

Among the major gainers were ITC, up 2.23 percent at Rs.249.60; BHEL, up 1.55 percent at Rs.2,333; RIL, up 1.23 percent at Rs.1,066.75; and Bharti Airtel; up 0.53 percent at Rs.323.85.

Top losers included Sun Pharma, down 3.09 percent at Rs.1,420.55; Tata Steel, down 2.91 percent at Rs.629.45; L&T, down 2.58 percent at Rs.1,485; and ONGC, down 2.13 percent at Rs.1,115.75.

Most other Asian markets were also affected by a selling spree, with the benchmark Japanese index, Nikkei, ending 2.56 percent lower at 10,590.55 points, and the Korean Kospi closed 2.19 percent down at 1,684.35.

The Chinese Shanghai composite index too was in the red, at 3,144.5 points, 0.45 percent down, while the Hang Seng of the Hong Kong Stock Exchange was ruling 2.54 percent lower at 20,332.51 points.