Sensex down 300pts; Ranbaxy up 2%

The Sensex is now down 300 points at 14,838.

Hindalco has slumped over 4% to Rs 156.

ICICI Bank, Reliance Communications and Larsen & Toubro have plunged nearly 3.5% each to Rs 884, Rs 529 and Rs 2,438, respectively.

Maruti, BHEL and Ambuja Cements have dropped around 3% each to Rs 825, Rs 1,670 and Rs 125, respectively.

Reliance Energy and Wipro have shed 2.5% each to Rs 734 and Rs 459, respectively.

NTPC, Hindustan Unilever, HDFC Bank and Satyam have slipped over 2% each.

Ranbaxy has gained 1.5% at Rs 372.

Out of 2,485 stocks traded so far, 1,614 have declined, 824 have advanced and 47 are unchanged.