Sensex slumps 163pts; ACC plunges 7%

A fresh round of heavy selling has forced the Sensex slip to lower levels. The index is now down 163 points at 12,272.

Gujarat Ambuja has slumped 8% to Rs 106. ACC has plunged over 7% to Rs 897, and Grasim has slipped over 2% to Rs 2,255.

Reliance has plunged over 4% to Rs 1,063. ONGC has dropped 3% to Rs 1,414.

ICICI Bank has declined 3.7% to Rs 636, and SBI is down 1.7% at Rs 960.

Larsen & Toubro has surged over 2% to Rs 2,835. NTPC has moved up 1.6% to Rs 131.

Dr.Reddy's, Tata Motors and Hero Honda are up 1% each at Rs 1,649, Rs 965 and Rs 880, respectively.

The market breadth is fairly negative. Out of 2,602 stocks traded so far, 1,498 have declined, 1,042 have advanced and 62 are unchanged.