Sensex sheds 700pts; Jaiprakash drops 24%

The Sensex has extended losses and is now down 712 points at 9,624.

Satyam has slumped 72% to Rs 49 on hefty volumes of over eight crore shares.

Jaiprakash Associates has plunged nearly 24% to Rs 77. Reliance Communications have tumbled 17.5% to Rs 206.

DLF has dropped 13.5% to Rs 242, and Reliance Infrastructure has shed 12.6% to Rs 565.

ICICI Bank has dropped 10.3% to Rs 469. Reliance is down 8.6% at Rs 1,250.

The market breadth is fairly negative - out of 2,448 stocks traded so far, 2,010 have declined, 383 have advanced and the rest are unchanged.