The Sensex is now down 374 points at 10,413. The index at dropped to a low of 10,112 in mid-noon deals.ITC and Tata Steel have dropped 6% each to Rs 166 and Rs 515, respectively. Grasim has shed 5.8% to Rs 1,768.ICICI Bank and Cipla have declined over 5% each to Rs 540 and Rs 229, respectively.Larsen & Toubro, ONGC, HDFC, Wipro, TCS, Reliance Energy, Infosys and Hero Honda are down 4-5% each.