In the afternoon session, the Indian stock markets recovered. BSE Sensex was higher by 26 points at 17,375.  NSE nifty was up by 14 points at 5124.  Reliance Power was up by 6.4% at Rs. 444.  TVS Motors was higher by 6.4%. Jay Bharat Maruti was trading with a gain of 14.5%.

IPCA Laboratories was up by 4.8%.  Among other gainers were Reliance Energy, HCL Infosystems, Maruti Udyog, HMT Ltd, Tata tea Ltd and ACC.

Technology counters were trading higher compared to Friday's close.  Satyam computers was up by 2% at 2 p.m. Wipro Ltd was up by 2% at Rs. 430.

Stocks of oil PSUs were also trading with marginal gains including ONGC and Indian Oil Corporation.  Cairn India was hired by 1.4% at Rs.  209.

Banking stocks were trading lower due to selling pressure.  HDFC bank was down by 4.3% at 2 p.m. ING Vysya bank was down by 4.4%.  Corporation Bank, Bank of India, Union Bank of India were down by more than 1.5%.

Hexaware Technologies and Rolta India were a weak in today's trading session.