MUMBAI: The Sensex opened with a huge negative gap of nearly 380 points at 11,316. The index plunged to a low of 10,741 in early noon deals - a decline of over 950 points from the Tuesday close of 11,695. Buying at lower levels saw the index recover over 585 points to close with a loss of 367 points (3.14%) at 11,328.

All the sectoral indices closed in the red. The BSE Consumer Durables index was down over 6%. Market breadth was extremely bearish - out of over 2,650 scrips traded, over 2,155 declined.

Jaiprakash dropped 10% to Rs 91. Sterlite declined 7% to Rs 292.

Wipro slipped 8% to Rs 282. Satyam and TCS were down 5% each at Rs 265 and Rs 547, respectively. Infosys dropped 4% to Rs 1,254.

ICICI Bank declined 6% to Rs 453. SBI dropped 6% to Rs 1,322.

Tata Steel, Tata Motors, ITC, L&T and HDFC also declined.

Total market turnover (BSE +NSE) was Rs 75,587 crore. Reliance was the most active counter on the BSE with a turnover of Rs 435 crore followed by Reliance Capital (Rs 287 crore) and ICICI Bank (Rs 252 crore).