Sensex down 123pts; Tata Steel spurts 3%

The Sensex is now down 123 points at 10,450.

The index had opened with a negative gap of 52 points at 10,521, and then tumbled to a low of 10,275 - down 298 points from the previous close.

Tata Steel has spurted 2.6% to Rs 494. Hero Honda, Wipro and ACC have gained over 1% each at Rs 784, Rs 459 and Rs 778, respectively.

Reliance Energy has dropped 4% to Rs 510.

Out of 2,097 stocks traded so far, 1,530 have declined, 528 have advanced and 39 are unchanged.