Sensex down 420pts on all-round selling

The Sensex is now down 420 points at 12,563.

Tata Motors has tumbled over 5% to Rs 733. ICICI Bank has plunged 4.6% to Rs 837.

Wipro, ONGC and ACC have shed around 4% each to Rs 558, Rs 775 and Rs 721, respectively.

Maruti, Gujarat Ambuja, HLL, Infosys and HDFC have dropped over 3.5% each to Rs 773, Rs 102, Rs 175, Rs 2,030 and Rs 1,550, respectively.

The market breadth is extremely negative - out of 2,034 stocks traded so far, 1,563 have declined, 434 advanced and 37 are unchanged.