Sensex down 155pts; Tata Steel drops 4%

The Sensex is now down 155 points at 13,645.

SBI has plunged 5.5% (Rs 75) to Rs 1,278. ICICI Bank and HDFC Bank have dropped over 4% each to Rs 840 and Rs 1,042, respectively.

Tata Steel has shed 4% to Rs 463. Hindalco has slipped 1.6% to Rs 177.

ACC and Hero Honda have declined over 2% each to Rs 1,080 and Rs 727, respectively.

Bharti, Reliance Communications, Maruti, Ranbaxy, HLL, Tata Motors and NTPC are the other major losers.

Cipla has gained 1.5% at Rs 250. ONGC and Satyam are up 1% each at Rs 849 and Rs 461, respectively.

The market breadth is extremely negative - out of 2,378 stocks traded so far, 1,449 have declined, 868 have advanced and 61 are unchanged.