Sensex down 128pts at 11,707

The Sensex is now down 128 points at 11,707.

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.

Cipla is down over 5% to Rs 247. Hindalco has dropped 3.4% to Rs 210, and Tata Steel has declined 3% to Rs 620.

HLL and Grasim have shed 3% each to Rs 279 and Rs 2,299, respectively.

NTPC has surged 2% to Rs 132. ACC has spurted 1.4% to Rs 947, and Bharti Tele is up 1.3% at Rs 407.

Out of 2,364 stocks traded so far, 1,637 have declined, 681 have advanced and 46 are unchanged.

Debutant Tantia Construction tops the value chart with a turnover of Rs 141.98 crore followed by Reliance (Rs 139.34 crore), Hindustan Zinc (Rs 100.36 crore), Tata Steel (Rs 75.89 crore) and Indiabulls (Rs 69.61 crore).

Tantia Construction leads the volume chart with trades of around 60 lakh shares on the BSE followed by Emkay Share (31.84 lakh), MRPL (29.70 lakh), Essar Oil (28.42 lakh) and Indiabulls (27 lakh).