Sensex tumbles 176pts on all-round selling

All round selling in the market has dragged the Sensex deeper into red. The Sensex tumbled a low of 11,449 - down 254 points from the day's high of 11,703, and is now down 176 points at 11,486.

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 nearly 5% to Rs 1,805. Wipro and Infosys have plunged over 3% each to Rs 518 and Rs 3,085. Satyam has shed 3% to Rs 810.

Tata Motors has tumbled 4% to Rs 913. ITC and Cipla have plunged over 3% each to Rs 192 and Rs 701, respectively.

Hero Honda, Grasim, Larsen & Toubro, Gujarat Ambuja, Maruti, HDFC, SBI and HDFC Bank are down 2-3% each.

On the other hand, Hindalco and ACC are up 1.4% each at Rs 195 and Rs 932, respectively. Dr.Reddy's and Reliance are the other notable gainers.

The market breadth has turned negative. Out of 2,537 stocks traded so far, 1,286 have declined, 1,188 have moved up and 63 are unchanged.