Sensex down 16pts, SBI drops 3.5%

The Sensex is now down 16 points at 9869.

Larsen & Toubro has dropped 4.5% to Rs 2,020. SBI has shed 3.5% to Rs 741.

Tata Motors has rallied nearly 4% to Rs 754. Cipla has surged 2.3% to Rs 215.

Out of 2,337 stocks traded so far, 1,357 have advanced, 912 have declined and 68 are unchanged.