Sensex down 355pts; Satyam, ICICI weak

The Sensex is now down 355 points at 17,379.

The NSE Nifty is down 78 points at 5,114.

Bajaj Auto has slumped 4.8% to Rs 2,296, and HDFC Bank has plunged 4% to Rs 1,481.

Satyam and ICICI Bank have tumbled 3.5% each to Rs 442 and Rs 1,104, respectively.

HDFC and Infosys have slipped over 3% each to Rs 2,566 and Rs 1,580, respectively.

Reliance and SBI have shed 2.7% each at Rs 2,434 and Rs 2,122, respectively. Mahindra & Mahindra has dropped 2.5% to Rs 625.

TCS, Hindustan Unilever and Ambuja have declined over 2% each to Rs 897, Rs 215 and Rs 117, respectively.

Bharti Airtel, Wipro and Reliance Energy are also down over 2% each at Rs 850, Rs 423 and Rs 1,564, respectively.

Cipla has soared over 5% to Rs 198. Hindalco has gained 1.5% at Rs 192.

Out of 2,738 stocks traded so far, 1,721 have declined, 945 have advanced and 72 are unchanged.