Sensex down 740pts; HDFC advances 1%

The Sensex is now down 740 points at 17,622.

The NSE Nifty has dropped 255 points at 5129.

SBI has slumped 8% to Rs 2,215. DLF, Reliance Communications and Infosys have tumbled around 6% each to Rs 887, Rs 629 and Rs 1,432, respectively.

Tata Steel, Bharti Airtel and Mahindra & Mahindra have plunged around 5.5% each to Rs 674, Rs 864 and Rs 638, respectively.

Reliance, Bajaj Auto and ONGC have slipped around 5% each to Rs 2,475, Rs 2,150 and Rs 965, respectively.

Larsen & Toubro and NTPC have shed 4.7% each at Rs 3,706 and Rs 212, respectively.

Hindustan Unilever, TCS and HDFC Bank have dropped 4.5% each to Rs 190, Rs 842 and Rs 1,530, respectively.

BHEL and Grasim are down over 4% each to Rs 2,073 and Rs 2,910, respectively.

HDFC, however, has rebounded into the positive zone and is now up 1% at Rs 2,742.