The Sensex is now down 270 points at 17,577.ICICI Bank has plunged over 5% to Rs 1,032. HDFC has slumped 4% to Rs 2,489.ITC and ONGC have dropped over 3% each to Rs 182 and Rs 990, respectively.Hindalco and SBI have shed 2.3% each to Rs 175 and Rs 1,865, respectively.Wipro, Reliance Communications, TCS and Mahindra & Mahindra have slipped around 2% each to Rs 461, Rs 630, Rs 1,060 and Rs 757, respectively.Grasim and HDFC Bank have declined 1.6% each to Rs 3,587 and Rs 1,399, respectively.ACC, Infosys, Dr.Reddy's and Bharti Airtel are the other major losers.NTPC has gained 1.5% at Rs 220. BHEL and Maruti are up around 1% each at Rs 2,095 and Rs 1,029, respectively.Out of 2,721 stocks traded so far, 1,877 have declined, 793 have advanced and 51 are unchanged.