Sensex extends losses, down 242pts

The Sensex has slipped back to lower levels and is now down 242 points at 18,572.

Reliance Energy has zoomed 6% to Rs 1,695. ONGC and Mahindra & Mahindra have soared 3.8% each to Rs 1,106 and Rs 845, respectively.

Tata Steel has surged 2% to Rs 867. Hindalco has moved up 1.8% to Rs 179.

Cipla has tumbled nearly 3% to Rs 185. ICICI Bank, Larsen & Toubro, Bajaj Auto and Infosys have plunged 2.6% each to Rs 1,060, Rs 3,393, Rs 2,550 and Rs 1,924, respectively.

Dr.Reddy's and BHEL have shed 2.4% each to Rs 615 and Rs 2,365, respectively.

Satyam, TCS and HDFC Bank are down 2% each at Rs 438, Rs 1,050 and Rs 1,428, respectively.

The market breadth is negative again - out of 2,766 stocks traded so far, 1,425 have declined, 1,258 have advanced and 83 are unchanged.