Sensex down 242pts; SBI drops 5%

The Sensex is now down 242 points at 14,851. Financials, capital goods and realty stocks continue to reel under selling pressure.

DLF has slumped 6.3% to Rs 514, and Reliance Infrastructure has tumbled 5.5% to Rs 1,008. Jaiprakash Associates has shed 4.6% at Rs 178.

SBI has plunged over 5% to Rs 1,475, and HDFC has dropped 4.5% to Rs 2,305. ICICI Bank has slipped 3.8% to Rs 684, and HDFC Bank has declined 3.4% to Rs 1,176.

BHEL has dropped 4% to Rs 1,715, and Larsen & Toubro has shed 3.5% at Rs 2,695.

Maruti has tumbled 3% to Rs 650, and ACC has declined 2.7% to Rs 610.

On the other hand, Infosys has surged 4% to Rs 1,691. Satyam has moved up 2.3% to Rs 416, and TCS has gained 1.3% at Rs 839.

Sterlite has advanced 1.6% to Rs 623, and Tata Steel has added 1% to Rs 617.

The market breadth is extremely negative - out of 2,593 stocks traded so far, 1,661 have declined, 854 have advanced and the rest are unchanged.