Sensex down 331pts; HDFC drops 8%

The Sensex is now down 331 points at 9,055.

Reliance Infrastructure has slumped 10% to Rs 465. HDFC has plunged nearly 8% to Rs 1,435, and HDFC Bank has tumbled over 7% to Rs 938.

Tata Power, Tata Steel and ICICI Bank have shed around 6.5% each at Rs 697, Rs 162 and Rs 370, respectively.

DLF has dropped over 6% to Rs 226. Sterlite has slipped 5.5% to Rs 215.

Hindalco and Jaiprakash Assocaites have declined 4.7% each to Rs 54 and Rs 70, respectively.

Reliance and Mahindra & Mahindra are down 4.4% each at Rs 1,098 and Rs 316, respectively.

Satyam and Reliance Communications are also down over 4% each at Rs 251 and Rs 211, respectively.

The market breadth is fairly negative - out of 2,313 stocks traded so far, 1,798 have declined, 454 have advanced and 61 are unchanged.