The Sensex opened with a positive gap of 266 points at 12,068 following the two positive moves by the regulators. The Sebi chief on Monday removed crubs on P-notes, and the RBI head cut cash reserve ratio by 50 basis points.

The index soon touched a high of 12,181, but could not hold gains. Selling pressure at higher levels forced the index slip into the negative zone.

The index, thereafter, exhitbited high volatility throughout the day amid alternate bouts of buying and selling. The index touched an intra-day low of 11,502 - down 679 points from the day's high.

The Sensex finally ended with a loss of 106 points at 11,695. The NSE Nifty ended at 3,606, up 4 points.

The market breadth was fairly negative - out of 2,682 stocks traded, 1,820 declined, 789 advanced and 73 were unchanged.

Index Shakers. . .

TCS [Get Quote] and Larsen & Toubro slumped 7% each to Rs 576 and Rs 1,008, respectively. Sterlite shed 6.4% at Rs 314.

HDFC Bank [Get Quote] and Mahindra & Mahindra plunged around 6% each to Rs 1,128 and Rs 473, respectively.

Satyam [Get Quote] dropped over 5% to Rs 279. Wipro [Get Quote] ad Tata Power [Get Quote] slipped around 4% each to Rs 307 and Rs 768, respectively.

ITC declined 3% to Rs 175.

...And The Movers

NTPC and Ranbaxy [Get Quote] surged around 4% each to Rs 176 and Rs 256, respectively.

BHEL soared 3.3% to Rs 1,497, and Bharti Airtel [Get Quote] rallied 2.7% to Rs 749.

Reliance, Tata Steel [Get Quote] and Reliance Infrastructure gained 2% each at Rs 1,675, Rs 357 and Rs 650, respectively.

Grasim [Get Quote] and Maruti [Get Quote] moved up 1.7% each to Rs 1,618 and Rs 671, respectively.

Value & Volume Toppers

Reliance Capital [Get Quote] topped the value chart with a turnover of Rs 390 crore followed by Reliance (Rs 344.75 crore), Larsen & Toubro (Rs 204.30 crore), SBI [Get Quote] (Rs 178 crore) and ICICI Bank [Get Quote] (Rs 177 crore).

Reliance Natural Resources [Get Quote] led the volume chart with trades of around 1.41 crore shares followed by Idea Cellular [Get Quote] (1.19 crore), Chambal Fertilisers (1.02 crore), Reliance Petroleum [Get Quote] (82 lakh) and IFCI (77.70 lakh).