January 22, 2010 2:16 PM

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Sensex recovers by 166 points in afternoon trade

After yesterday's over 400 points fall, the Sensex at the Bombay Stock Exchange plunged another 352 points, to trade below the 17,000-point level, at 16,699, in early trade, Friday, on a sell-off by investors, amid tumbling global markets. But the Sensex has since recovered partially, and stood 166 points, or 1 percent in the red, at 16,885, a short while ago. Stocks markets in China, Japan, Hong Kong, South Korea, Singapore and Taiwan slipped between 1.3 percent and 2.5 percent, today, amid concerns that China may further tighten its monetary policy. Over in the US, the Dow Jones Industrial Average had slipped 2 percent, overnight, after U.S. President Barack Obama proposed tough restrictions on banks that would squeeze profits.

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