Sensex down around 500pts; HUL up 2%

The NSE Nifty is down 116 points at 4,317.

ICICI Bank has slumped 10.4% to Rs 652. HDFC and HDFC Bank have tumbled 7% each to Rs 2,144 and Rs 1,128, respectively.

Reliance has shed 7% at Rs 2,144. Reliance Infrastructure has dropped 5.7% to Rs 969, and Jaiprakash Associates has slipped over 4% to Rs 164.

DLF, BHEL and Larsen & Toubro have declined over 3.5% each to Rs 489, Rs 1,662 and Rs 2,614, respectively.

ONGC has slipped 3.2% to Rs 994. Cipla has declined 2.7% to Rs 226.

Tata Motors and Tata Steel are down 2.3% each at Rs 430and Rs 616, respectively.

Ranbaxy has surged 2.7% to Rs 480. Hindustan Unilever (HUL) has advanced 2% to Rs 233.

NTPC and ACC are up 1.3% each at Rs 188 and Rs 568, respectively.

Out of 2,652 stocks traded so far, 1,520 have declined, 1,049 have advanced and 83 are unchanged.