Sensex recovers, down 956pts; TCS soars 3%

The Sensex opened with a significant negative gap of 1,014 points at 18,038, and soon hit the 10% lower circuit at 17,308 on quarterly closing.

The index has recovered 50% of its losses after trading resumed at 1055 hrs, and is now down 956 points at 18,096.

Reliance Energy has slumped 10.5% to Rs 1,705. ICICI Bank and Bharti Airtel plunged over 8% each to Rs 1,060 and Rs 1,020, respectively.

HDFC and SBI tumbled over 7% each to Rs 2,385 and Rs 1,787, respectively.

Reliance Communications, Tata Steel, Maruti, HDFC Bank, ACC, Hindalco, NTPC, Bajaj Auto, Tata Motors and Mahindra & Mahindra have dropped 5-6% each to Rs 715, Rs 855, Rs 1,120, Rs 1,421, Rs 1,196, Rs 187, Rs 219, Rs 2,410, Rs 780 and Rs 775, respectively.

TCS has surged 3% to Rs 1,100. Infosys has moved up 1.7% to Rs 1,900, and Satyam has gained 1% at Rs 454.