Sensex down 55pts, Reliance drops 3%

The Sensex has dropped 55 points to 7,232.

ONGC has slumped over 3% (Rs 33) to Rs 941. Reliance is also down over 3% (Rs 20) at Rs 625. HLL has declined nearly 2% (Rs 3) to Rs 160.  ITC, however, is still up over a per cent (Rs 20) at Rs 1,696.

Infosys is now up only Rs 5 at Rs 2,352. Wipro is down Rs 7 at Rs 728.

ACC is still up Rs 3 at Rs 394. Gujarat Ambuja and Grasim are still in positive zones.

Tata Steel, HDFC Bank and Hero Honda are also trading with gains.

Videocon International has declined over 4% to Rs 81.Chennai Petro is still down 4% at Rs 183.

Karnataka Bank has declined over 7% to Rs 108. IndusInd Bank continues to trade on a weak note.