Sensex down 38pts; NTPC, Tata St slip 2%

The Sensex is now down 38 points at 11,669.

Ranbaxy, HDFC and Dr.Reddy's have advanced over 1% each to Rs 401, Rs 1,306 and Rs 720, respectively.

Tata Motors, Wipro and Maruti are the other smart gainers.

NTPC and Tata Steel have dropped 2% each to Rs 125 and Rs 507, respectively. Reliance Communications has slipped 1.7% to Rs 304.

Reliance Energy has shed 1.4% to Rs 442. Cipla, ITC and Hindalco are down nearly 1% each at Rs 246, Rs 183 and Rs 174, respectively.

The market breadth is fairly negative - out of 2,133 stocks traded so far, 1,265 have declined, 791 have advanced and the rest are unchanged.