Sensex down 523pts; breadth extremely -ve

The Sensex is now down 523 points at 14,478.

All index stocks are in negative zone.

Tata Steel has slumped 6.5% to Rs 600. ICICI Bank and Bharti Airtel have plunged around 5.5% each to Rs 831 and Rs 811, respectively.

Reliance, BHEL, Reliance Communications, HDFC Bank, ONGC, SBI and Tata Motors have dropped over 4% each to Rs 1,754, Rs 1,619, Rs 503, Rs 1,101, Rs 820, Rs 1,551 and Rs 664, respectively.

Hindalco and Larsen & Toubro have shed 3.7% each to Rs 148 and Rs 2,331, respectively.

Maruti, Mahindra & Mahindra, Bajaj Auto, Grasim, ITC and Reliance Energy are down over 3% each to Rs 795, Rs 657, Rs 2,310, Rs 2,790, Rs 160 and Rs 731, respectively.

The market breadth is extremely negative - out of 2,363 stocks traded so far, 1,564 have declined, 755 have advanced and 44 are unchanged.