Sensex down 657pts; SBI, ICICI slip 6%

The Sensex is now down 657 points at 16,922.

The NSE Nifty is down 205 points at 5,018.

HDFC has slumped 7.5% to Rs 2,591, and BHEL has tumbled over 7% to Rs 2,120.

SBI, DLF and ICICI Bank have plunged 6% each to Rs 1,984, Rs 735 and Rs 1,027, respectively.

NTPC has dropped nearly 5% to Rs 192. Bharti Airtel and Reliance have shed 4.5% each at Rs 791 and Rs 2,346, respectively.

ITC has slipped 4% to Rs 194. HDFC Bank and Reliance Communications are down 3.7% each to Rs 1,400 and Rs 554, respectively.

Maruti has soared 4% to Rs 902. Hindustan Unilever has surged 3.8% to Rs 236.

Ranbaxy has rallied 3.5% to Rs 462, and Cipla have gained nearly 3% at Rs 213.

Out of 2,703 stocks traded so far, 2,166 have declined, 488 have advanced and 49 are unchanged.