Sensex down 316pts; Reliance, HUL drop 4%

The Sensex is now down 316 points at 17,776.

The NSE Nifty is down 104 points at 5,177.

Bajaj Auto has slumped nearly 7% to Rs 2,215. ITC and Reliance Energy have plunged 5% each to Rs 191 and Rs 2,001, respectively.

Reliance and Hindustan Unilever (HUL) has tumbled 4.3% each to Rs 2,465 and Rs 198, respectively.

ICICI Bank and ONGC have dropped around 3.5% each to Rs 1,178 and Rs 985, respectively.

NTPC and Tata Motors have slipped around 3% each to Rs 205 and Rs 695, respectively.

Reliance Communications, Hindalco and Mahindra & Mahindra have declined around 2.5% each to Rs 628, Rs 175 and Rs 685, respectively.

Maruti and Cipla are down nearly 2% each at Rs 840 and Rs 187, respectively.

Bharti Airtel and HDFC have moved up around 1.5% each to Rs 864 and Rs 2,890, respectively.

Tata Steel is up 1% at Rs 723.

Out of 2,687 stocks traded so far, 1,874 have declined, 762 have advanced and 51 are unchanged.