Sensex down 49pts; ICICI Bank slips 2%

The Sensex is now down 49 points at 12,225.

Satyam has shed 2.5% to Rs 838, and ICICI Bank has slipped 2.2% to Rs 650.

HLL has dropped 1.4% to Rs 255. Tata Steel, TCS, Larsen & Toubro, Dr.Reddy's, Reliance Communications and Reliance Energy  are down over 1% each.

Grasim has surged over 2% to Rs 2,523. Bajaj Auto is up over 1% at Rs 2,929.

Gujarat Ambuja, Reliance, Bharti Airtel and ACC are the other smart gainers.

Out of 2,490 stocks traded so far, 1,608 have declined, 805 have advanced and the rest are unchanged.