Sensex down 337pts; SBI, NTPC drop 5%

The Sensex is now down 337 points at 17,436.

Reliance Energy has slumped 6% to Rs 1,359. Tata Steel, ACC and Ranbaxy have plunged 5.6% each to Rs 786, Rs 1,111 and Rs 409, respectively.

SBI and NTPC have tumbled around 5% each to Rs 1,768 and Rs 204, respectively.

ONGC has shed 4.5% to Rs 923. Dr.Reddy's and Mahindra & Mahindra have slipped 4% each to Rs 627 and Rs 722, respectively.

Hindalco has dropped 3.8% to Rs 163, and Grasim has shed 3.5% at Rs 3,420.

Reliance Communications, Reliance and Reliance are down nearly 3% each at Rs 625, Rs 2,413 and Rs 1,008, respectively.

Satyam has advanced 2.4% to Rs 455.

Out of 2,729 stocks traded so far, 2,338 have declined, 359 have advanced and 32 are unchanged.