Sensex down 358pts; breadth fairly -ve

The Sensex is now down 358 points at 11,125.

Sterlite has slumped 9% to Rs 296, and Tata Steel has tumbled nearly 8% to Rs 281.

Jaiprakash Associates has plunged over 6% to Rs 80. ITC, Reliance Communications and Reliance Infrastructure have shed around 5.5% each at Rs 159, Rs 254 and Rs 598, respectively.

Infosys has slipped over 5% to Rs 1,325, and Satyam has dropped 4.7% to Rs 276.

ICICI Bank, Hindalco, Larsen & Toubro, Maruti and BHEL have declined around 4% each to Rs 428, Rs 82, Rs 963, Rs 690 and Rs 1,429, respectively.

Ranbaxy is up 1% at Rs 283.

The market breadth is fairly negative - out of 1,987 stocks traded so far, 1,516 have declined, 433 have advanced and 38 are unchanged.