Sensex down 162pts; SBI tumbles 6%

The Sensex is now down 162 points at 13,929.

SBI has tumbled over 6% to Rs 1,093. ICICI Bank and HDFC Bank have shed 5% each to Rs 906 and Rs 1,020, respectively.

Maruti has slipped 4.6% to Rs 850, and HDFC has shed 3.6% to Rs 1,660.

Grasim has dropped 2.7% to Rs 2,675. Larsen & Toubro, Dr.Reddy's and Tata Motors are the other major losers.

Hindalco has gained nearly 2% at Rs 145. Wipro and ACC have moved up 1.5% each to Rs 647 and Rs 1,026, respectively.

Out of 2,369 stocks traded so far, 1,710 have declined, 614 have advanced and 45 are unchanged.