Sensex slumps 359pts

Unabated selling continues on the Dalal Street. The Sensex slumped to a low of 11.303, and is now down 358 points at the same level.

The selling is attributed to heavy selling by the foreign institutional investors (FIIs) in the futures & options segment on Monday. FIIs were net sellers of nearly Rs 2,000 crore.

TCS has slumped 5.6% to Rs 1,790. Satyam and Wipro have tumbled 3.8% each to Rs 804 and Rs 515, respectively. Infosys has dropped 3.3% to Rs 3,081.

Grasim has shed 5% to Rs 2,172. Cipla has slipped 4.3% to Rs 693.

Tata Motors and Hero Honda are down nearly 5% each at Rs 905 and Rs 829, respectively. Maruti has tumbled over 4% to Rs 847.

The market breadth is negative. Out of 2,563 stocks traded so far, 1,453 have slipped, 1,065 have moved up and 45 are unchanged.