Sensex down 121pts; Maruti zooms 2%

The Sensex is now down 121 points at 11,714.

Earlier in the day, the Sensex slumped to a low of 11,345 - down 490 points in early trades following Sebi's order on the IPO scam. However, it recovered most of its losses and touched a high of 11,803.

NTPC has surged 2.4% to Rs 133. Maruti has zoomed 2% to Rs 916. ACC and Bharti Tele have added 1.3% each to Rs 946 and Rs 407, respectively.

Cipla has dropped 4.6% to Rs 248. Hindalco has shed 3.7% to Rs 209, and Tata Steel has declined nearly 3% to Rs 621.

HLL and Grasim have shed 2.6% each to Rs 280 and Rs 2,305, respectively. Wipro is down 2.4% at Rs 531.

Out of 2,418 stocks traded so far, 1,600 have declined, 766 have advanced and 52 are unchanged.