Sensex down 261pts; HDFC, HDFC Bank shed 5%

The Sensex opened with a significant loss of 304 points at 8,536 on the back of weak cues from the US markets. The index is now down 261 points at 8,579.

Mahindra & Mahindra has slumped over 7% to Rs 253. Maruti has tumbled 5.8% to Rs 457, and Sterlite has shed 5.3% at Rs 226.

HDFC Bank and HDFC have plunged 4.7% each to Rs 857 and Rs 1,371, respectively. Jaiprakash Associates has dropped 4.5% to Rs 54.

Hindalco, SBI and DLF have slipped over 4% each to Rs 49, Rs 1,012 and Rs 171, respectively.

ICICI Bank, Reliance Communications, Reliance and Tata Steel have declined around 3.5% each to Rs 314, Rs 189, Rs 1,071 and Rs 148, respectively.

Reliance Infrastructure is the sole stock in postive zone.