Sensex down 127pts; Tata Motors drops 4%

The Sensex opened with a positive gap of 133 points at 11,072. The index touched a high of 11,143, but soon slipped into the negative zone to a low of 10,664 - a swing of 407 points in early trades.

The index is now down 127 points at 10,811.

ICICI Bank has advanced 1.6% to Rs 566. Satyam has spurted over 1% to Rs 672.

Tata Motors and Tata Power have tumbled over 4% each to Rs 812 and Rs 511, respectively.

Dr.Reddy's has shed 3.7% to Rs 1,461. Ranbaxy and Cipla have slipped 2% each to Rs 421 and Rs 217, respectively.

Wipro has dropped 2.6% to Rs 478.