Sensex down 398pts; Bajaj Auto tumbles 6%

The Sensex is now down 398 points at 17,704.

The NSE Nifty is down 122 points at 5,159.

Bajaj Auto has slumped over 6% to Rs 2,232. ITC and Reliance Energy have plunged around 5% each to Rs 191 and Rs 2,003, respectively.

ONGC and Hindustan Unilever have tumbled 4.5% each to Rs 973 and Rs 198, respectively.

Reliance, ICICI Bank and Tata Motors have dropped around 4% each to Rs 2,469, Rs 1,174 and Rs 689, respectively.

NTPC has shed 3.5% at Rs 204. Hindalco and Reliance Communications have slipped nearly 3% each to Rs 175 and Rs 625, respectively.

Cipla has declined 2.3% to Rs 186. Mahindra & Mahindra and Maruti have dropped 2% each to Rs 687 and Rs 840, respectively.

Satyam has shed 1.6% at Rs 390. Grasim, Larsen & Toubro and HDFC Bank are down over 1% each to Rs 2,965, Rs 3,725 and Rs 1,515, respectively.

Tata Steel and Bharti Airtel are up over 1% each to Rs 725 and Rs 860, respectively.

Out of 2,719 stocks traded so far, 2,012 have declined, 652 have advanced and 55 are unchanged.