November 26, 2010 1:56 PM

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Sensex drops by 49 points in noon trade

The Sensex at the Bombay Stock Exchange, which had gained 97 points in opening trade, this morning, quickly surrendered all those initial gains, as it plunged 287 points, to 19,032, amid a sell-off in realty and banking counters, after the market was spooked by the housing loan scam.But the Sensex has since recovered much of the lost ground, to stand a more modest 49 points, or 0.3 percent in the red, at 19,269, a short while ago. Other Asian markets in Japan, China, South Korea, Singapore, Taiwan, Hong Kong and Indonesia were down by between 0.2 percent and 1.3 percent.

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