Sensex drops 148pts to 11,599

The Sensex again dropped 148 points to 11,599, and the market is rife with talks of Sebi banning FIIs.

Sebi, in unconfirmed reports, had denied market rumours of it banning 11 foreign institutional investors.

The index had touched a life-time intra-day high of 11,931 in early morning deals backed by significant gains in Infosys. Therefter, the index plunged to a low of 11,565.