Concerns over a deep global recession and doubts over the effectiveness of fiscal measures announced by various governments prevent investors from holding positions at higher levels. The market, which had posted strong gains yesterday, has been struggling today due to lack of support at crucial levels. Global meltdown and stock market However, amid high volatility, the benchmark indices Sensex and Nifty, which had plunged sharply about half an hour ago, have wiped off their losses now thanks to some strong buying across the board. Stockometer The Sensex, which had tumbled to 9441.97 earlier this afternoon, has rallied to 9645.76 now, cutting down its loss to just 9.14 points. The Nifty, which has recovered to 2921.65 from a low of 2861.55, is down with a loss of 6.60 points. Top gainers Jaiprakash Associates rules firm with a hefty gain of 10.7%. Sterlite Industries is up by around 7.5% at Rs 292.50. Reliance Communications is up with a gain of 4.5%. ACC is up 2.8% at Rs 489.70. Worst losers ICICI Bank and Reliance Industries are up by 1.2% and 1.1% respectively. ITC, State Bank of India and Bharti Airtel have posted modest gains. Reliance Infrastructure, Larsen & Toubro and HDFC Bank are up marginally over their previous closing levels. Reliance Natural Resources has zoomed 23% to Rs 53.55 today. GE Shipping is up with a big gain of 14.2% at Rs 190.10. Shipping Corporation of India has gained 12.55%. India Bulls Real Estate and Jet Airways are up by around 11.5% now. Crompton Greaves, Reliance Petroleum, Exide Industries, Aban Offshore, Triveni Engineering, Essar Oil, Balrampur Chini, Renuka Sugars, Pantaloon Retail, Mangalore Refineries & Petrochemicals, Tata Tea, Reliance Capital and Jain Irrigation Systems are up by 5% - 10%.

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