Sensex down 121pts; ICICI Bank drops 4.5%

The Sensex is now down 121 points at 10,799.

ICICI Bank has shed 4.5% to Rs 485. Satyam has dropped 3% to Rs 712.

Larsen & Toubro has slipped 2.8% to Rs 2,205. TCS and Bajaj Auto have declined 2% each to Rs 1,810 and Rs 2,756, respectively.

Tata Steel, Reliance Energy, Dr.Reddy's, Hindalco and BHEL are the other prominent losers among the Sensex stocks.

Reliance Communications (RCL) has gained 1.5% at Rs 262.

Out of 2,260 stocks traded so far, 1,315 have declined, 862 have advanced and the rest are unchanged.