Weakness persists... Sensex down 421pts

The Sensex is now down 421 points 8,353.

ICICI Bank has slumped 10% to Rs 313. Sterlite and Reliance Communications have tumbled around 9% each to Rs 198 and Rs 181, respectively.

Tata Power and Maruti have plunged 8% each to Rs 622 and Rs 475, respectively.

HDFC, Reliance Infrastructure, Reliance and DLF have shed around 7% each at Rs 1,269, Rs 424, Rs 1,055 and Rs 209, respectively.

Jaiprakash Associates and HDFC Bank have dropped nearly 7% each to Rs 59 and Rs 827, respectively.

Tata Motors has dropped 5.8% to Rs 127. Infoys has slipped 5% to Rs 1,114.

Grasim and Bharti Airtel have declined over 4% each to Rs 890 and Rs 586, respectively.

NTPC, however, has advanced nearly 1% to Rs 137.

The market breadth is extremely negative - out of 2,490 stocks traded so far, 1,949 have declined, 474 have advanced and the rest are unchanged.