Weakness continues... HDFC slumps 9%

The Sensex continues to languish at lower levels and is now down 398 points at 8,376.

HDFC has slumped 8.7% to Rs 1,247. Tata Power has tumbled 8.3% to Rs 621.

ICICI Bank, HDFC Bank and Reliance Communications have plunged around 8% each to Rs 320, Rs 816 and Rs 183, respectively.

DLF and Reliance Infrastructure have shed nearly 8% each at Rs 209 and Rs 425, respectively.

Sterlite and Maruti have slipped 6% each to Rs 205 and Rs 486, respectively.

Jaiprakash Associates has declined 5.7% to Rs 60. Wipro, Reliance and Satyam are down 5% each at Rs 211, Rs 1,076 and Rs 222, respectively.

Infosys, Mahindra & Mahindra, Bharti Aitel and Grasim are down around 4.5% each.

All index stocks continue to languish in the negative zone.

The market breadth is extremely negative - out of 2,288 stocks traded so far, 1,851 91 have declined, 376 have advanced and 61 are unchanged.