Sensex cuts losses, down 76pts

The Sensex has cut most of its losses owing to buying in the oil & gas stocks. The BSE Oil & Gas index has advanced 1.5% to 9,215.

The index is now at 14,250, down 76 points. 
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Updated at 1233 Hrs:

The Sensex is still languishing in the red and is now 195 points lower at 14,131. The BSE Realty index has shed 5% to 3,052.

Sterlite and Hindalco have tumbled over 5% each to Rs 562 and Rs 80, respectively.

DLF, ICICI Bank and Jaiprakash Associates have slumped around 4.5% each to Rs 307, Rs 695 and Rs 192, respectively.

Reliance Communications, ACC, Larsen & Toubro, Tata Steel and ITC are down 3-4% each.

Tata Motors has gained around 3% at Rs 343.

NTPC, Reliance, ONGC and Grasim have added 1-2% each.

The market breadth is extremely negative- out of 2,313 shares traded, 1,684 have declined and 572 have advanced so far on the BSE.