Sensex stages smart recovery, down 600 pts; SBI up 2pc.

The key benchmark indices had recovered partially on the back of gains in banking and select auto shares. Select FMCG shares were also off the day's low, while IT stocks continued to sag under selling pressure. The BSE Sensex was down 493 points at 57,365, and the NSE Nifty was down 139 points at 17,139. SBI and AXis Bank were the top gainers among the Sensex 30 shares, up over 2 percent each. Kotak Bank, Sun Pharma and Maruti were the other notable gaines. On the flip side, IT majors - HCL Technologies, Tech Mahindra, Wipro and TCS were down 3-4 percent each. Dr. Reddy's too was down 3.7 percent. The broader indices also trimmed significant losses. The BSE Midcap and Smallcap indices were...