Sensex down 220pts; Hindalco down 4%

The Sensex is now down 220 points at 10,638.

Hindalco has dropped nearly 4% to Rs 175. Tata Motors and Reliance Communications have slipped 3.5% each to Rs 742 and Rs 259, respectively.

Satyam, HDFC Bank, Dr.Reddy's, Grasim and Maruti have declined around 3% each to Rs 722, Rs 725, Rs 1,296, Rs 1,980 and Rs 791, respectively.

Out of 2,355 stocks traded so far, 1,512 have declined, 763 have advanced and 80 are unchanged.