Sensex down 38pts; market breadth negative

The Sensex is now 38 points at 12,236.

Grasim has surged 2% to Rs 2,517. Gujarat Ambuja and Bharti Airtel have spurted over 1% each to Rs 117 and Rs 471, respectively.

Hindalco and Reliance are up 1% each.

Satyam has slipped 2% to Rs 842. ICICI Bank has dropped 1.5% to Rs 654.

Tata Motors, TCS and HLL are down 1% each.

The market breadth is negative - out of 2,209 stocks traded so far, 1,241 have declined, 894 have advanced and 74 are unchanged.