Markets extend losses

The Sensex has extended losses and is now down 198 points at 17,001. The Nifty is down 63 points at 5,045.
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(Updated at 1308 hrs)

The Sensex touched a low of 17,069, and is now down 96 points at 17,103. The NSE Nifty is down 31 points at 5,077.

Tata Steel has plunged 3.5% to Rs 543.

ICICI Bank and SBI have shed 2% each at Rs 881 and Rs 2,279, respectively.

Tata Motors has dropped nearly 2% to Rs 632. HDFC Bank and ITC have slipped 1.5% each to Rs 1,775 and Rs 265, respectively.

Hindalco has moved up 2.6% to Rs 139. ACC has added 1.8% to Rs 809.

Reliance continues to trade on a lacklustre note around Rs 1,092.

The market breadth is now fairly negative - out of 2,637 stocks traded so far, 1,588 have declined, 961 have advanced.