Sensex down 442pts; Tata Steel slumps 8%

The Sensex opened with a negative gap of 487  points at 9,683. The index is now down 442 points at 9,728.

Tata Steel has slumped 7.7% to Rs 226, and ICICI Bank has plunged 7.5% to Rs 367. Hindalco has crashed 6.5% to Rs 57.

Bharti Airtel, Jaiprakash Associates and Reliance have tumbled around 6% each to Rs 627, Rs 68 and Rs 1,240, respectively.

TCS and Mahindra & Mahindra have shed 5.5% each at Rs 516 and Rs 359, respectively.

Sterlite and Satyam have slipped 5.3% each to Rs 251 and Rs 292, respectively.