Sensex recovers nearly 500pts from day's low

The Sensex has recovered sharply from the day's low of 10,741, and is now down 445 points at 11,250.

Sterlite has slumped over 11% to Rs 278. Satyam and Wipro have plunged 9% each to Rs 254 and Rs 280, respectively.

ICICI Bank and Jaiprakash Associates have tumbled over 8% each to Rs 445 and Rs 93, respectively. Tata Steel has crashed 7.5% to Rs 331.

HDFC Bank has shed 6.6% at Rs 1,053. Reliance Infrastructure, Hindalco and TCS have slipped over 6% each to Rs 610, Rs 89 and Rs 540, respectively.

Reliance Communications has declined nearly 6% to Rs 283. ACC, Tata Motors and Reliance are down around 5% each.

Ranbaxy has rebounded into the positive zone and surged nearly 6% to Rs 271.

The market breadth is extremely negative - out of 2,406 stocks traded so far, 2,173 have declined, 201 have advanced and 32 are unchanged.