Sensex down 400pts; HLL & ONGC slip 4%

The Sensex is now down 400 points at 12,583.

Tata Motors has tumbled 5% to Rs 735, and ICICI Bank has shed 4.7% to Rs 837.

Wipro, HLL and ONGC have dropped around 4% each to Rs 557, Rs 174 and Rs 776, respectively.

ACC, Reliance Communications, Infosys, Tata Steel and Satyam have declined around 3.5% each to Rs 724, Rs 402, Rs 2,034, Rs 430 and Rs 437, respectively.

Out of 2,191 stocks traded so far, 1,631 have declined, 522 have advanced and 38 are unchanged.