RECOVERY CONTINUES - Sensex down 407pts

The Sensex is now down 407 points at 10,380. The index at dropped to a low of 10,112 in mid-noon deals.

Grasim, Hero Honda and Tata Steel are down around 7% each at Rs 1,745, Rs 749 and Rs 510, respectively. ITC has shed 6.6% to Rs 165.

Cipla has plunged 6% to Rs 227. Tata Power, Hindalco, TCS, Wipro and ICICI Bank are the other major gainers.

Out of 2,412 stocks traded so far, 2,150 have declined, 226 have advanced and 34 are unchanged.