Sensex recovers after 491 pts dip to 11,344 due to SEBI action

Mumbai, Apr 28: The benchmark index of the Bombay Stock Exchange (BSE) opened 137 points lower at 11,698 as compared to the last close of 11,835.

The 30 share Sensitive Index (Sensex) dipped sharply by 491 points to 11,344 as an impact of market regulator's crack down on the operators and depository participants (DP) involved in the IPO Scam.

However, the Sensex recovered and traded 132 point down at 11,702 at 1116 hrs.

Yesterday, SEBI banned 24 operators including Karvy Stock Broking and India Bulls from stock market operations and 12 DPs from opening fresh demat accounts.

''Client should switch over from Karvy and Pratik as Depository Participants (DP) within 15 days, ''said the latest circular issued by Securities and Exchange Board of India (SEBI).

UNI