A spirited show by Tata Motorsand SBI coupled with higher opening in European indices helped the Bombay Stock Exchange benchmark index, Sensex, recover from steep early losses it suffered on profit booking. After opening weak, it quickly fell to the day’s low of 18736.45, down 166 points on overnight losses in the Dow Jones Industrial Average. However, the Sensex started recovering on heavy buying in Tata Motors, Bharti Airtel and SBI. The 30-share index finally closed at 18846.26, down 56.15 points.

Rupee down

The rupee cut short a two-day rally losing 16 paise to settle at 54.36 against the dollar on heavy demand for the American currency from banks and importers.—PTI