Sensex down 319pts; HDFC slips 3%

The Sensex is now down 319 points at 17,416.

The NSE Nifty is down 75 points at 5,117.

Bajaj Auto and Mahindra & Mahindra have tumbled around 3% each to Rs 2,336 and Rs 623, respectively.

HDFC and Satyam have shed 2.8% each at Rs 2,575 and Rs 446, respectively.

ICICI Bank has plunged 2.5% to Rs 1,116. TCS, Reliance Energy and Infosys have slipped 2.3% each to Rs 897, Rs 1,559 and Rs 1,594, respectively.

HDFC Bank, SBI and Reliance have declined over 2% each to Rs 1,509, Rs 2,133 and Rs 2,450, respectively.

Wipro, too, is down 2% at Rs 423.

Cipla has gained 2.4% at Rs 193, and Hindalco has moved up nearly 2% to Rs 193.