Sensex down 535pts; ACC plunges 8%

The Sensex opened with a negative gap of 54 points at 12,164. A fresh round of selling in the late morning deals saw the index slide to a low of 11,618 - down 600 points from the previous close.

The index is now down 535 points at 11,683.

ACC has plunged 8% to Rs 837. Gujarat Ambuja has tumbled over 6% to Rs 102, and Grasim has shed 4.8% to Rs 2,067.

Hindalco has slumped 7.6% to Rs 202. Tata Steel has dropped nearly 6% to Rs 576.

Maruti and Tata Motors have tumbled 6.3% each to Rs 854 and Rs 901, respectively.

Larsen & Toubro has shed nearly 6% to Rs 2,545, and BHEL has dropped 5.2% to Rs 2,205.

Dr.Reddy's has declined 4.5% to Rs 1,571. Ranbaxy has slipped nearly 4% to Rs 471.

Reliance has plunged 5% to Rs 1,035, and ONGC is down 4% at Rs 1,384.

Tata Power has rebounded into the positive zone and is sole gainer among the Sensex stocks.

Out of 2,492 stocks traded so far, 2,093 have declined, 369 have advanced and 30 are unchanged.