Sensex down 31pts; Ranbaxy gains 3%

The Sensex is now down 31 points at 12,853.

Bajaj Auto has plunged 7% to Rs 2,902. HDFC Bank and Wipro have dropped 3% each to Rs 980 and Rs 557, respectively.

HDFC has shed 2.5% to Rs 1,477. Tata Motors has declined 1.6% to Rs 948.

Ranbaxy has surged 3% to Rs 424. ICICI Bank and Dr.Reddy's have rallied 2.5% each to Rs 745 and Rs 733, respectively.

Hindalco has advanced 2.2% to Rs 188. Reliance Communications and Bharti Airtel are up 1.5% each at Rs 379 and Rs 495, respectively.

Larsen & Toubro, Bharti Airtel and ITC are up 1% each at Rs 1,304, Rs 492 and Rs 195, respectively.

The market breadth is negative - out of 2,503 stocks traded so far, 1,259 have declined, 1,157 have advanced and 87 are unchanged.