Sensex down 280pts; all index stocks in red

The Sensex is now down 280 points at 10,578.

Reliance Communications and Hindalco have plunged around 5% each to Rs 255 and Rs 174, respectively.

Satyam, Tata Motors and Wipro have dropped over 3.5% each to Rs 718, Rs 741 and Rs 485, respectively.

Bharti Airtel, Maruti, HDFC Bank, Grasim and Gujarat Ambuja are down over 3% each to Rs 359, Rs 787, Rs 723, Rs 1,975 and Rs 105, respectively.

There are no gainers among the index stocks.

Out of 2,214 stocks traded so far, 1,529 have declined, 619 have advanced and the rest are unchanged.