Sensex down 346pts; breadth fairly -ve

The Sensex is now down 346 points at 17,389.

The NSE Nifty is down 85 points at 5,107.

Bajaj Auto and Mahindra & Mahindra have tumbled over 4% each to Rs 2,314 and Rs 615, respectively.

Satyam has plunged 3.8% to Rs 441, and Reliance Energy has shed 3% at Rs 1,546.

ICICI Bank, HDFC and TCS have dropped 2.8% each to Rs 1,112, Rs 2,575 and Rs 894, respectively.

Reliance has shed 2.5% at Rs 2,438. HDFC Bank, SBI and Ambuja Cements have slipped 2.3% each to Rs 1,506, Rs 2,128 and Rs 117, respectively.

Infosys, Tata Motors and Wipro have declined over 2% each to Rs 1,595, Rs 693 and Rs 422, respectively.

Bharti Airtel and Hindustan Unilever are down 2% each at Rs 850 and Rs 215, respectively.

Cipla has gained 3.3% at Rs 195, and Hindalco has moved up 1.3% to Rs 192.

The market breadth is fairly negative - out of 2,519 stocks traded so far, 1,568 have declined, 874 have advnaced and 77 are unchanged.