Markets sink further; Sensex down 390pts

Markets sink further. The Sensex is trading 390 points lower at 9,780. Nifty is down 119 points to 2946.

There are only five gainers in the Sensex. Bhel is up 3% to Rs 1173, Grasim is up 1.7% to Rs 1,180. HDFC Bank has advanced 1.57% to Rs 1065. L&T and ONGC are trading over 1% each. 

Tata Steel is the biggest Sensex loser, down 15.4% to Rs 207. Tata Motors has lost 14.6% to Rs 194. Hindalco and Ranbaxy are down 13.5% and 11.35% to Rs 52.50 and Rs 229 respectively.