Sensex down 164pts; Reliance slumps 9%

The Sensex opened with a huge significant positive gap of 300 points at 10,931 in line with other Asian markets amid the backdrop of the US elections. The index touched a high of 10,945, but soon began to pare gains.

The selling pressure was so intense that the index dropped into the negative zone to a low of 10,300 - down 645 points from the day's high in a matter of 1 1/2 hour. The index has recovered partially and is now down 164 points at 10,467.

TCS has zoomed over 7% to Rs 545. Satyam has surged 3.4% to Rs 287.

ONGC and Wipro have rallied 2.5% each to Rs 781 and Rs 270, respectively.

Infosys has advanced nearly 2% to Rs 1,358. HDFC Bank and BHEL are up nearly 1.5% each at Rs 1,126 and Rs 1,433, respectively.

Reliance has slumped nearly 9% to Rs 1,328. Reliance Communications has tumbled 5.5% to Rs 237.

Tata Steel has plunged nearly 4% to Rs 231. Bharti Airtel has slipped over 3% to Rs 695.

ACC and Jaiprakash Associates have shed 2.3% each at Rs 495 and Rs 87, respectively.

ITC, Tata Power and Grasim have slipped over 2% each to Rs 167, Rs 735 and Rs 1,110, respectively.

NTPC has declined nearly 2% to Rs 149. SBI is down 1.5% at Rs 1,300.