The Sensex from a high of 17,841, slipped to a low of 17,418 - down 423 points - in the first one-hour of trades today. The index has now recovered smartly from the day's low and is now down 165 points at 17,593.The NSE Nifty is down 45 points at 5,122.Hindalco has slumped 6.5% to Rs 165. Grasim has shed 3.5% at Rs 2,888.Reliance Energy, SBI and DLF have tumbled over 3% each to Rs 1,927, Rs 2,148 and Rs 835, respectively.ITC and Tata Steel have plunged 2.8% each to Rs 194 and Rs 704, respectively.ACC and HDFC have dropped around 2.5% each to Rs 778 and Rs 2,825, respectively.Larsen & Toubro, NTPC, Ranbaxy and Maruti are down nearly 2% each to Rs 3,638, Rs 198, Rs 349 and Rs 828, respectively.ONGC, Infosys and Hindustan Unilever have gained 1.8% each at Rs 986, Rs 1,518 and Rs 200, respectively.Bharti Airtel and HDFC Bank have moved up 1.3% each to Rs 864 and Rs 1,552, respectively.