Sensex down 524pts; HLL, ONGC drop 5%

The Sensex is now down 524 points at 12,548.

All index stocks are in negative zone.

Tata Motors has tumbled 7.7% to Rs 672, and Maruti has shed 6.7% to Rs 765. Bajaj Auto has dropped 5.7% to Rs 2,288, and Hero Honda has slipped over 5% to Rs 650.

SBI has slumped 6.5% to Rs 929. Larsen & Toubro has dropped over 6% to Rs 1,520. Wipro has slipped 5.8% to Rs 526.

ONGC, HLL and HDFC are down around 5% each to Rs 835, Rs 195 and Rs 1,447, respectively.

Out of 2,397 stocks traded so far, 1,644 have declined, 689 have advanced and 64 are unchanged.