Sensex down over 100pts; TCS up 3%

The Sensex is now down 110 points at 8,805. Earlier in the day, the index opened 74 points lower at 8,841, slipped to a low of 8,709, and then rallied to a high of 9,042.

Sterlite has slumped over 7% to Rs 203. ICICI Bank has plunged 5.5% to Rs 317, and DLF has tumbled 5% to Rs 188.

SBI and Satyam have shed 4.5% each at Rs 1,129 and Rs 230, respectively.

Mahindra & Mahindra and Tata Steel have dropped 3.7% each to Rs 298 and Rs 154, respectively.

HDFC Bank and Grasim have slipped 2.7% each to Rs 833 and Rs 910, respectively.

Relaince has declined over 2% to Rs 1,102. Ranbaxy, HDFC and Reliance Communications are down nearly 2% each at Rs 216, Rs 1,375 and Rs 203, respectively.

TCS has surged over 3% to Rs 523. Reliance Infrastructure has gained 2.5% at Rs 497.

Infosys and ACC are up around 1% each at Rs 1,198 and Rs 403, respectively.

The market breadth is negative - out of 2,321 stocks traded so far, 1,337 have declined, 912 have advanced and the rest are unchanged.