The Sensex has extended losses and is now down 339 points at 13,722.
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(Updated at 1446 hrs)
The Sensex has slipped further into the red to a low of 13,736, down 354 points from the day's high. The index has recovered slightly and is now down 284 points at 13,776.
Larsen & Toubro has plunged over 8% to Rs 1,247. Maruti Suzuki has slumped 7% to Rs 967.
Hindalco has shed 6% at Rs 78. HDFC has slipped 5% to Rs 2,093.
Wipro, ICICI Bank, DLF,TCS, Sun Pharma, BHEL, Mahindra & Mahindra, SBI, Grasim, ACC, ITC, Infosys, Tata Steel, Tata Motors, Sterlite, Hindustan Unilever and Reliance have declined 1-4% each.
On the other hand, ONGC has zoomed 8% to Rs 1,073. Reliance Communications has gained 5% at Rs 324. Ranbaxy and NTPC have advanced 2% each to Rs 224 and Rs 214, respectively.
The market breadth continues to be positive. Out of 2,728 stocks traded, 76% have advanced while 22% have declined.