The Sensex has recovered most of its losses and is now down five points at 11,497.HDFC has slipped 1.6% to Rs 1,297. Cipla has declined 1% to Rs 249.Grasim, SBI, ITC, Bajaj Auto, HDFC Bank and Larsen & Toubro are the other notable losers.Tata Steel, Dr.Reddy's, NTPC, Reliance Energy, Hindalco and BHEL are the notable gainers.The market breadth is positive - out of 1,918 stocks traded so far, 1,109 have advanced, 759 have declined and the rest are unchanged.