Sensex down 205pts; Tata Steel tanks 5%

The Sensex is now down 205 points at 9605.

Tata Steel has shed 4.7% to Rs 435. Grasim and HDFC have slumped 3.7% each to Rs 1,710 and Rs 1,165, respectively.

SBI has advanced over 1% to Rs 781. Dr.Reddy' and Ranbaxy have also rebounded into the positive zone.

The market breadth is extremely negative - out of 1,727 stocks traded so far, 1,117 have declined, 560 have advanced and 50 are unchanged.