MKT 'MAY'HEM: Sensex down 358pts

The Sensex is now down 358 points at 10,580.

Tata Motors has tumbled 10.5% to Rs 760. Larsen & Toubro has shed 7% to Rs 2,324. Grasim has dropped 6.5% to Rs 1,800.

Wipro has plunged over 9% to Rs 446. ONGC and Tata Steel are down around 6% each at Rs 1,211 and Rs 474, respectively.

Reliance Energy has surged 2.6% to Rs 527. Cipla and Ranbaxy are the only other gainers among the Sensex stocks.

Out of 2,346 stocks traded so far, 2,116 have declined, 204 have advanced and 26 are unchanged today.