Sensex ends down 278pts

The Sensex has ended (provisional) at 16,857 - down 278 points.

The Nifty has ended down 80 points at 5,003.
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(Updated at 1502 hrs)

Constant selling in the realty and oil & gas stocks dragged the Sensex to a low of 16,898. The index is now at 16,909, down 224 points.

The NSE Nifty is at 5,013, down 70 points.

Bharti Airtel has plunged 9% to Rs 398. Hindalco and Grasim have decreased over 7% each to Rs 117 and Rs 2,506, respectively.

Reliance Communication has declined 6% to Rs 300.

Sterlite, Jaiprakash Associates, Maruti, DLF, Tata Motors and TCS are down 3-4% each.

ITC has advanced around 3% to Rs 239. Sun Pharma, Reliance Infrastructure and HDFC are up over 1% each.

The market breadth is extremely negative,out of 2,795 shares traded, 2,012 have declined and 733 have advanced on the BSE so far.