The RBI on Tuesday announced a 25 basis points cut in repo and reverse repo rates. The central bank kep Cash Reserve Ratio (CRR) unchanged at 5%.

However, the index recovered smartly and rebounded into the positive zone on the back of fresh buying in select index heavyweights. The index touched a high of 11,069 - up 304 points from the day's open.

The Sensex finally ended with a loss of 81 points at 10,898. The Nift ended at 3,365, down 12 points.

The Bankex dropped nearly 3% at 5,317. The Auto and Capital Goods indices declined around 2.5% each at 3,364 and 7,791, respectively. The Realty index however advanced over 2% to 2,249.

INDEX SHAKERS...

Tata Steel [Get Quote] slumped 7% to Rs 244. ICICI Bank [Get Quote] plunged 6.5% to Rs 399.

Maruti [Get Quote] and Tata Motors [Get Quote] tumbled over 5% each to Rs 789 and Rs 233, respectively. Sterlite shed over 4% at Rs 383.

Larsen & Toubro dropped 3.5% to Rs 854. SBI [Get Quote] and Reliance Infrastructure have slipped over 3% each to Rs 1,255 and Rs 675, respectively.

Mahindra & Mahindra has declined 2.5% to Rs 438. Infosys [Get Quote] was down 2% at Rs 1,364.

...AND THE MOVERS

Bharti Airtel [Get Quote] soared nearly 4% to Rs 719.

Hindalco [Get Quote] surged nearly 4% to Rs 56, and Sun Pharma [Get Quote] gained 3.5% at Rs 1,223.

DLF moved up nearly 3% to Rs 237. Tata Power [Get Quote] and ITC added nearly 2.5% each to Rs 880 and Rs 189, respectively.

HDFC Bank [Get Quote] and Hindustan Unilever were up nearly 2% each at Rs 1,087 and Rs 242, respectively.

OTHER PROMINENT GAINERS...

Welspun Guj zoomed over 15% to Rs 90. RCF, Yes Bank [Get Quote], Voltas [Get Quote], IDFC [Get Quote], Bajaj Holdings, Indiabulls [Get Quote] Realestate, Dabur India [Get Quote], HDIL, Pantaloon [Get Quote] Retail, Jai Corp [Get Quote] and Cipla surged 5-9% each.

...AND THE LOSERS

Zee Entertainment slumped over 10% to Rs 121. Punj Lloyd [Get Quote], Piramal Healthcare, Mphasis, Bank of India, Hindustan Construction, Asian Paints [Get Quote], Hindustan Copper [Get Quote], Max India [Get Quote], Tech Mahindra [Get Quote] and Siemens declined 5-9% each.

VALUE & VOLUME TOPPERS

Reliance topped the value chart with a turnover of Rs 283.45 crore followed by Reliance Capital [Get Quote] (Rs 255.26 crore), Educomp Solutions [Get Quote] (Rs 205 crore), ICICI Bank (Rs 202.80 crore) and HDIL (Rs 187.23 crore).

Cals Refineries led the volume chart with trades of around 2.63 crore shares followed by Unitech (2 crore), Suzlon [Get Quote] (1.70 crore), Reliance Natural Resources [Get Quote] (1.56 crore) and HDIL (1.40 crore).