Sensex down 74pts; ICICI, HDFC Bank slip 4%

The Sensex has slipped into the negative zone and is now down 74 points at 15,941.

The NSE Nifty is down 17 points at 4,813.

Tata Steel has soared 5.5% to Rs 691. Cipla and ITC have has surged 2.5% each to Rs 217 and Rs 205, respectively.

Ranbaxy has moved up 1.7% to Rs 443. Reliance Energy, Satyam and Larsen & Toubro have advanced 1.5% each to Rs 1,306, Rs 401 and Rs 3,005, respectively.

Infosys, NTPC and BHEL are up over 1% each at Rs 1,460, Rs 199 and Rs 2,005, respectively.

ICICI Bank and HDFC Bank have plunged 3.7% each to Rs 803 and Rs 1,383, respectively.

ONGC has dropped 3% to Rs 1,038. HDFC has shed 2.7% at Rs 2,590, and Mahindra & Mahindra has slipped over 2% to Rs 672.

SBI, Hindusan Unilever and Reliance Communications have declined around 1.5% each to Rs 1,624, Rs 240 and Rs 531, respectively.

Tata Motors, Grasim and Reliance are down over 1% each at Rs 648, Rs 2,670 and Rs 2,250, respectively.