Sensex down 276pts; Tata Steel slumps 6%

The Sensex is now down 276 at 9534.

Tata Steel has dropped 5.7% to Rs 430, and Grasim has slipped over 5% to Rs 1,683.

HDFC and Tata Motors have dropped over 4% each to Rs 1,156 and Rs 726, respectively.

Reliance Communication Ventures has delinced 3.8% to Rs 213.

Reliance Energy and HLL are down 3.5% each at Rs 418 and Rs 201, respectively.

Out of 2,080 stocks traded so far, 1,532 have declined, 504 have advanced and 44 are unchanged.