Sensex down 425pts; ICICI, HDFC Bank weak

The Sensex is now down 425 points at 18,627.

Reliance Energy has slumped nearly 7% to Rs 1,773. BHEL, SBI, ACC and Mahindra & Mahindra have plunged around 5% each to Rs 2,275, Rs 1,828, Rs 1,205 and Rs 776, respectively.

HDFC Bank and ICICI Bank have dropped 4.5% each to Rs 1,437 and Rs 1,105, respectively.

Tata Steel, HDFC and NTPC have shed 4.3% each to Rs 868, Rs 2,461 and Rs 221, respectively.

Bajaj Auto and ONGC have slipped 4% each to Rs 2,440 and Rs 1,131, respectively.

Ambuja Cements, Reliance Communications and Cipla are down 3% each to Rs 148, Rs 739 and Rs 179, respectively.

TCS has rallied 2.5% to Rs 1,095. Satyam has surged nearly 2% to Rs 458, and Infosys has gained 1.5% at Rs 1,895.

Out of 2,647 stocks traded so far, 1,843 have declined, 746 have advanced and 58 are unchanged.