Markets extend losses; Tata Steel drops 7%

The Sensex has extended losses and is now down 289 points at 15,214.

The NSE Nifty is down 71 points at 4,550.

The BSE Metal index has plunged 3.7% to 12,654, and the Bankex has shed 3.3% at 7,444.

Tata Steel has slumped 6.6% to Rs 602, and Maruti has tumbled 5.6% to Rs 675.

ICICI Bank has shed 4.7% at Rs 735. Infosys and Sterlite have dropped 4.3% each to Rs 1,598 and Rs 598, respectively.

Tata Power and Jaiprakash Associates have slipped over 4% each to Rs 1,032 and Rs 189, respectively. HDFC has declined 3.8% to Rs 2,474.

 

SBI and Tata Motors are down 3% each at Rs 1,545 and Rs 434, respectively.

The market breadth is fairly negative - out of 2,517 stocks traded so far, 1,575 have declined and 861 have advanced.