Sensex extends losses, down 354pts

The Sensex is now down 354 points at 17,419.

Reliance Energy, Tata Steel, Ranbaxy and ACC have plunged around 6.5% each to Rs 1,351, Rs 779, Rs 405 and Rs 1,100, respectively.

SBI has slumped 5.5% to Rs 1,763. NTPC has shed 4.6% to Rs 205.

Hindalco and ONGC have dropped 4.3% each to Rs 162 and Rs 925, respectively.

Dr.Reddy's has slipped 3.8% to Rs 629. ICICI Bank and Mahindra & Mahindra have declined 3.5% each to Rs 1,000 and Rs 726, respectively.

Satyam has advanced 1.5% to Rs 451, and BHEL has added 1.2% to Rs 2,180.

Out of 2,682 stocks traded so far, 2,225 have declined, 417 have advanced and 40 are unchanged.