Sensex down 176pts; Guj Amb slumps 10%

The Sensex is now down 176 points at 12,521.

Updated at 1435 hrs

The Sensex is now down 137 points at 12,560.

Gujarat Ambuja has slumped 9.7% to Rs 103. ACC has crashed 7% to Rs 795, and Grasim has slipped over 2% to Rs 2,075.

Wipro has tumbled over 5% to Rs 550. Ranbaxy has shed 4.6% to Rs 307, and Maruti has dropped 3% to Rs 766.

ICICI Bank, Hindalco and HDFC Bank have declined around 2.5% each to Rs 830, Rs 127 and Rs 914, respectively.

ITC and Reliance are down around 2% each to Rs 159 and Rs 1,274, respectively.

Cipla has advanced over 2% to Rs 226, and HDFC has gained 1.5% to Rs 1,524. Dr.Reddy's has moved up over 1% to Rs 628.

Out of 2,540 stocks traded so far, 2,046 have declined, 453 have advanced and 41 are unchanged.