Sensex down 700pts; Tata Motors cracks 13%

The Sensex came very close to the 10,000-mark in late morning trades, touching a low of 10,018 - a fresh 27 month low. The index is now down 705 points at 10,104.

Tata Motors has tumbled over 13% to Rs 245. TCS and Hindalco have slumped 12% each to Rs 477 and Rs 70, respectively.

Reliance has crashed 11.6% to Rs 1,343, and Wipro has plunged 10.5% to Rs 248.

Tata Power has tanked 10% to Rs 716. Reliance Infrastructure, Larsen & Toubro and Jaiprakash Associates have shed nearly 9.5% each at Rs 504, Rs 810 and Rs 66, respectively.

Sterlite and Mahindra & Mahindra have dropped 9% each to Rs 440 and Rs 266, respectively.

Infosys and Grasim have slipped 8.5% each to Rs 1,218 and Rs 1,367, respectively.

Bharti Airtel has declined 7.5% to Rs 665.

Hindustan Unilever, however, continues to hold a gain of 2% at Rs 236.

The market breadth is extremely bearish - out of 2,391 stocks traded so far, 2,100 have declined, 251 have advanced and 40 are unchanged.