Sensex down 504pts; ICICI, Bharti down 5%

The Sensex is now down 504 points at 14,497.

All index stocks continue to languish in in negative zone.

Tata Steel has slumped over 6% to Rs 602. ICICI Bank and Bharti Airtel have plunged over 5% each to Rs 833 and Rs 812, respectively.

Reliance, Reliance Communications, HDFC Bank, BHEL and SBI have tumbled around 4% each to Rs 1,757, Rs 503, Rs 1,102, Rs 1,621 and Rs 1,553, respectively.

ONGC and Larsen & Toubro have dropped 3.6% each to Rs 823 and Rs 2,333, respectively. Hindalco and Tata Motors have shed 3.4% each to Rs 149 and Rs 668, respectively.

Bajaj Auto, Grasim and Maruti have declined over 3% each to Rs 2,311, Rs 2,789 and Rs 797, respectively.

Out of 2,476 stocks traded so far, 1,581 have declined, 851 have advanced and 44 are unchanged.