Sensex extends losses; Sterlite up 2%

The Sensex continues to extend losses and is now down 161 points at 8,286. Earlier in the day, the index opened 89 points higher at 8,535.

Ranbaxy has slumped over 5% to Rs 151. Hindustan Unilever and Jaiprakash Associates have plunged 3.5% each to Rs 232 and Rs 63, respectively.

Tata Power and ITC have tumbled over 3% each to Rs 653 and Rs 168, respectively.

Reliance has dropped 2.7% to Rs 1,177. Reliance Infrastructure and Bharti Airtel have slipped around 2.5% each to Rs 446 and Rs 587, respectively.

BHEL has declined 2% to Rs 1,305. HDFC Bank, Grasim, Hindalco, Mahindra & Mahindra, HDFc, Tata Motors, NTPC and ICICI Bank are the other major losers.

Sterlite has surged over 2% to Rs 251, and Tata Steel has gained 1% at Rs 158.

The market breadth is negative - out of 1,964 stocks traded so far, 1,050 have declined, 821 have advanced and the rest are unchanged.