Sensex down 430pts

The Sensex opened with a negative gap of 107 points at 10,680. The index plunged to a low of 10,337 - down 450 points from the previous close.

The index is now down 430 points at 10,357.

HLL (Rs 229), Hindalco (Rs 176), ITC (Rs 168), Wipro (Rs 447), Hero Honda (Rs 764) and Maruti (Rs 728) have declined 5% each.

ACC, ONGC, Tata Power, Dr.Reddy's, Cipla, Grasim, Gujarat Ambuja, ICICI Bank, Tata Motors, TCS and Bajaj Auto are down over 4% each.

The market breadth is extremely negative - out of 1,890 stocks traded so far, 1,666 have declined, 198 have advanced and 26 are unchanged.