Sensex down 770pts; Tata Steel, REL slip 6%

The Sensex is now down 770  points at 14,990.

The NSE Nifty is down 208 points at 4,538.

HDFC has slumped 10.7% to Rs 2,235. ICICI Bank has plunged 9.4% to Rs 796.

Jaiprakash (JP) Associates has tumbled 8% to Rs 218. Reliance Communications has shed 6.5% at Rs 485.

Tata Steel and Reliance Energy have slipped around 6% each to Rs 671 and Rs 1,218, respectively.

HDFC Bank, DLF, Reliance and SBI have dropped around 5.5% each to Rs 1,242, Rs 618, Rs 2,195 and Rs 1,621, respectively.

Hindalco and Ranbaxy are down 5.3% each at Rs 172 and Rs 439, respectively.

Out of 2,614 stocks traded so far, 2,284 have declined, 297 have advanced and 33 are unchanged.