Sensex down 500pts; Rel Comm, Rel Infra shed 10%

The Sensex has slipped below the 11,000-mark and is now down 503 points at 10,981.

Reliance Communications has tanked over 10% to Rs 241. Larsen & Toubro and Reliance Infrastructure have slumped 9.5% each to Rs 907 and Rs 572, respectively.

Jaiprakash Associates has plunged 9% to Rs 77. Sterlite has tumbled 8% to Rs 299.

Tata Steel has shed 7.5% at Rs 282. BHEL and ICICI Bank have slipped 6.7% each to Rs 1,387 and Rs 418, respectively.

Maruti and Infosys have dropped over 5.5% each to Rs 678 and Rs 1,321, respectively.

HDFC and Bharti Airtel are down almost 5% each to Rs 1,749 and Rs 727, respectively.

The market breadth is fairly negative - out of 2,434 stocks traded so far, 1,945 have declined, 441 have advanced and 48 are unchanged.