Sensex down 260pts; M&M surges 4%

The Sensex is now down 260 points at 11,112.

Earlier in the day the index opened at 11,371 before touching a high of 11,376. Thereafter, the index slipped into the red and touched the day's low of 11,081, down 291 points from the previous close.

Reliance Infrastructure has tumbled 4.5% at Rs 677. Sterlite, DLF, Tata Steel and ICICI Bank have plunged 4% each to Rs 399, Rs 235, Rs 244 and Rs 451, respectively.

HDFC, Tata Motors and ITC have dropped 3.5% each to Rs 1,740, Rs 240 and Rs 187, respectively.

Tata Power, Reliance Communications, Wipro, Hindustan Unilever, Bharti Airtel, BHEL, ACC, ONGC and Hindalco have shed 1-3% each.

However, Mahindra & Mahindra has surged 4% to Rs 494. Jaiprakash Associates has advanced 2% to Rs 133. Maruti Suzuki has added 1% to Rs 816.

The market breadth is fairly negative. Out of 2,415 staocks traded, 1,693 have declined and 646 have advanced.