Sensex extends losses, down 240pts

The Sensex continues to drift lower into red and is now down 240 points at 9,394.

Reliance Communications has plunged nearly 4% to Rs 175. Sterlite has shed 3.5% at Rs 266.

ICICI Bank and Reliance Infrastructure have slumped 3.3% each to Rs 420 and Rs 551, respectively.

Bharti Airtel, Reliance and SBI have dropped 3% each to Rs 632, Rs 1,349 and Rs 1,159, respectively.

HDFC Bank and Ranbaxy have slipped around 2.5% each to Rs 920 and Rs 207, respectively. BHEL has declined 2.3% to Rs 1,432.

HDFC, Wipro, Jaiprakash Associates, Tata Power, ONGC, ACC and DLF are down around 2% each.

The market breadth has turned negative - out of 2,015 stocks traded so far, 1,090 have declined, 855 have advanced and the rest are unchanged.