Sensex down 194pts; HMT gains 4%

The Sensex has dropped over 2% (194 points) to 8.530.

ONGC has slipped 4% (Rs 42) to Rs 1,029. Reliance has declined Rs 11 (1.4%) to Rs 791. SBI has dropped Rs 19 to Rs 928. HLL is steady at Rs 175 - down Rs 6.

Infosys is down Rs 20 at Rs 2,623. TCS has lost Rs 39 to Rs 1,431.

Bajaj has declined 3.3% (Rs 59) to Rs 1,723. BHEL is down 1.6% (Rs 21) at Rs 1,239. Tata Steel has slipped 4.6% (Rs 20) to Rs 405.

ICICI Bank has dropped Rs 27 (4.8%) to Rs  534. HDFC is down Rs 30 at Rs 1,001. HDFC Bank is down Rs 19 at Rs 689.

Dr. Reddy's is still up Rs 18 at Rs 927. Ranbaxy and NTPC are also trading with gains.

HMT is up 4% at Rs 109. IOC has added 3.5% (Rs 16) to Rs 467. BPCL is up 3% at Rs 424. IBP and Kochi Refineries are also trading at higher levels.