Sensex below 11K, tumbles over 800pts

The Sensex is now down 857 poins at 10,839 on the back of relentless selling in the market. 

The NSE Nifty has shed 243 points at 3,364.

Updated at 1045hrs

The Sensex opened with a negative gap of 379 points at 11,316 on the back of global meltdown. The index slipped deeper and broke the 11,000-mark in the first hour of trade today. The index is now down 663 points at 11,032.

Sterlite has slumped nearly 12% to Rs 277, and Satyam has plunged 10.8% to Rs 249.

TCS has tumbled over 9% to Rs 522. Tata Steel, HDFC Bank and Reliance Infrastructure have shed around 8.5% each to Rs 326, Rs 1,030 and Rs 596, respectively.

Jaiprakash Associates and Tata Power have dropped 8% each to Rs 93 and Rs 706, respectively.

Infosys, Reliance Communications and Wipro have slipped 7% each to Rs 1,211, Rs 279 and Rs 285, respectively.

Reliance has declined 6.7% to Rs 1,564. Grasim, ICICI Bank, HDFC and DLF are down around 6% each at Rs 1,519, Rs 456, Rs 1,838 and Rs 285, respectively.

All index stocks are in negative zone with a minimum loss of 2% each.

Elsewhere in the world, the Dow and the Nasday, yesterday, plunged over 500 and 100, points, respectively amid growing fears of a deeper recession.

Major Asian markets, too, are down around 5% each. Nikkei has tumbled 7% to 9,449. Hang Seng and Taiwan Weighted indices have slumped 5.5% each to 15,871 and 5,219, respectively. The Straits Times and Seoul Composite indices are down 5% each at 2,069 and 1,298, respectively.