Sensex down 300pts in early trades; M&M sheds 7%

The Sensex opened with a negative gap of 275 points at 9,371, and soon slipped to a low of 9,282. The index is now down 288 points at 9,357.

Mahindra & Mahindra has slumped 6.5% to Rs 268. Tata Motors has tumbled 5.5% to Rs 152.

Tata Steel and Jaiprakash Associates have plunged 5% each to Rs 207 and Rs 79, respectively.

Wipro, Maruti, DLF, Sterltie and Reliance Infrastructure have dropped around 4.5% each to Rs 238, Rs 487, Rs 245, Rs 282 and Rs 578, respectively.

Larsen & Toubro and Reliance Communications have slipped 4% each to Rs 750 and Rs 230, respectively.