Sensex down 361pts; Tata Steel sheds 8%

The Sensex opened with a negative gap of 242 points at 12,284. The index is now down 361 points at 12,166.

Jaiprakash Associates and Sterlite have slumped 10% each to Rs 105 and Rs 356, respectively. DLF has crashed 9.5% to Rs 304.

Tata Steel has tumbled over 8% to Rs 362. Reliance Infrastructure, Reliance Communications and Tata Power have slipped around 5% each to Rs 703, Rs 316 and Rs 845, respectively.

BHEL has shed 4.5% at Rs 1,496. Larsen & Toubro, Bharti Airtel and Ranbaxy have slipped around 4% each to Rs 1,110, Rs 725 and Rs 253, respectively.

ACC has dropped 3.7% to Rs 602. TCS, HDFC Bank, Wipro, HDFC, Infosys  and ICICI Bank are down over 3% each.

Hindustan Unilever and Tata Motors are the only gainers among the index stocks.