Sensex opens lower but recovers quickly

The Indian equities markets opened at a loss Wednesday in the wake of mixed cues from Asian markets but recovered quickly.

The 30-share benchmark sensitive index of the Bombay Stock Exchange, the Sensex, opened with a loss of 61.56 points at 16,691.30.

However, minutes after opening, the markets moved upwards to 16,785.55, gaining 32.69 points or 0.20 percent from Tuesday's close.

The S&P Nifty index of the National Stock Exchange opened below the psychologically important 5,000-point mark at 4,958.45 points with a loss of 0.03 percent. Within minutes it slid further to 4,952.20.

Other Asian markets, barring those in Seoul and Singapore, were trading higher.