Sensex down 406pts; Infosys drops 6%

The Sensex has slipped below the 16,000-mark and is now down 406 points at 15,965.

The NSE Nifty is down 114 points at 4,828.

Infosys has slumped 6.3% to Rs 1,430. Grasim has plunged 5.5% to Rs 2,559, and ICICI Bank has tumbled 4.5% to Rs 798.

HDFC Bank has dropped nearly 4% to Rs 1,348. Satyam, Wipro and DLF have shed around 3.5% each at Rs 394, Rs 438 and Rs 672, respectively.

BHEL and Larsen & Toubro have slipped 3.3% each to Rs 2,022 and Rs 3,044, respectively. TCS has declined over 3% to Rs 843.

HDFC, Ambuja Cements and Reliance Communications have dropped around 2.5% each to Rs 2,545, Rs 121 and Rs 523, respectively.

Tata Steel and Jaiprakash Associates are also down around 2.5% each at Rs 699 and Rs 235, respectively.

Cipla has moved up 1.3% to Rs 220.