Sensex down 502pts; Reliance down 4%

The Sensex is now down 502 points at 15,049.

ACC has slumped nearly 6% to Rs 998. Bharti Airtel has plunged 5.5% to Rs 854.

Tata Motors has tumbled 4.6% to Rs 667. Reliance Communications, HDFC and HDFC Bank have dropped around 4.3% each to Rs 534, Rs 1,930 and Rs 1,148, respectively.

Hindalco, BHEL, Wipro and Reliance have shed 4% each to Rs 163, Rs 1,661, Rs 475 and Rs 1,818, respectively.

Mahindra & Mahindra and Relaince Energy have slipped 3.7% each to Rs 702 and Rs 764, respectively.

The market breadth is extremely bearish - out of 2,359 stocks traded so far, 1,728 have declined, 579 have advanced and 52 are unchanged.