Sensex down 38pts; Ranbaxy, Satyam drop 3%

The Sensex is now down 38 points at 14,215.

Hero Honda has rallied 3.3% to Rs 740, and Bharti Airtel has surged 2.5% to Rs 811. Tata Steel has moved up 1.8% to Rs 452.

HDFC, Hindalco, Maruti and Gujarat Ambuja are up over 1% each.

Ranbaxy and Satyam have slipped around 3% each to Rs 393 and Rs 464, respectively. Infosys has dropped over 2% to Rs 2,313.

HLL has shed nearly 2% to Rs 196. BHEL, ITC and HDFC Bank are down over 1% each to Rs 2,334, Rs 174 and Rs 1,018, respectively.

Out of 2,614 stocks traded so far, 1,465 have declined, 1,078 have advanced and 71 are unchanged.