Sensex down 196pts

The Sensex is now down 196 points at 10,663.

Hindalco has dropped 3.5% to Rs 176. Tata Motors and Reliance Communications have slipped 3.3% to Rs 744 and Rs 260, respectively.

Satyam has slipped over 1% to Rs 722. Grasim and Wipro are down nearly 3% each to Rs 1,983 and Rs 489, respectively.

HDFC Bank, Maruti, Dr.Reddy's and Ranbaxy have declined 2.5% each to Rs 728, Rs 794, Rs 1,302 and Rs 336, respectively.

ONGC, Hero Honda, NTPC and Reliance Energy are trading in green.

Out of 2,322 stocks traded so far, 1,498 have declined, 760 have advanced and 64 are unchanged.