The Sensex touched a new low of 14,612, down 295 points from the day's high. The index is now trading near its low at 14,626, down 160 points.
For the second day in a row following its dismal FY09 performance, Tata Motors is a major loser among the Sensex stocks. The stock is now down 5.5% at Rs 297.
Realty majors - DLF and Jaiprakash Associates are the other major losers. While the former has shed 5% at Rs 322, the latter is down 3.7% at Rs 213. Sterlite has also dropped 3.6% to Rs 623.
Reliance Communications has slipped 3% to Rs 298. ICICI Bank, Reliance Infrastucture, Reliance, ACC, Hindalco have declined 1-2.5% each.
On the other hand, Sun Pharma continues to hold its gains and is now trading 2% higher at Rs 1,122. TCS is the other major gainer at Rs 394, up 2%.
Grasim, ONGC, Hindustan Unilever and Tata Steel are marginally up - around 1% each.
The market breadth is fairly negative. Out of 2,481 stock traded, 1,549 have declined while 856 have advanced.