Sensex steady, down 389pts

The Sensex continues to languish at lower levels and is now down 389 points at 12,594.

Wipro and Tata Motors have slumped 5% each to Rs 553 and Rs 735, respectively. ICICI Bank has plunged 4.5% to Rs 838.

ONGC and Infosys have tumbled 3.7% each to Rs 777 and Rs 2,027, respectively.

Tata Steel and BHEL have shed 3.5% each to Rs 429 and Rs 2,044, respectively.

Reliance Communications, Satyam and Hero Honda have dropped 3% each to Rs 404, Rs 439 and Rs 676, respectively.

Out of 2,290 stocks traded so far, 1,667 have declined, 585 have advanced and 38 are unchanged.