Sensex down 122pts; Bharti, ONGC drop 4%

The Sensex has recovered most of its losses and is now down 122 points at 18,786. The index had tumbld to a low of 18,333 in the early morning trades.

Bharti Airtel and ONGC have plunged over 4% each to Rs 835 and Rs 1,187, respectively.

Infosys and HDFC Bank have dropped around 3.5% each to Rs 1,647 and Rs 1,485, respectively.

Bajaj Auto and Satyam have dropped 2.7% each to Rs 2,330 and Rs 416, respectively.

BHEL has slipped over 2% to Rs 2,714. Mahindra & Mahindra and TCS are down 1.8% each at Rs 730 and Rs 968, respectively.

ITC has zoomed 6% to Rs 179. SBI has surged 3.5% to Rs 2,238.

Hindustan Unilever has rallied nearly 3% to Rs 199. Cipla has gained 2.5% at Rs 182.

Hindalco has moved up 2% to Rs 206. Grasim and Ambuja Cements are up 1.4% each at Rs 3,553 and Rs 147, respectively.

Out of 2,732 stocks traded so far, 1,753 have declined, 924 have advanced and 55 are unchanged.