Sensex down 870pts; JP Associates down 9%

The Sensex is now down 870 points at 14,890.

The NSE Nifty is down 240 points at 4,506.

HDFC has slumped 11% to Rs 2,226, and ICICI Bank has plunged 10.5% to Rs 785.

Jaiprakash (JP) Associates has tumbled 9.5% to Rs 214. Hindalco and Reliance Energy have shed 7.7% each to Rs 168 and Rs 1,198, respectively.

Reliance Communications and Tata Steel have dropped over 7% each to Rs 481 and Rs 664, respectively.

DLF has slipped 6.7% to Rs 611. SBI, HDFC Bank and Reliance are down around 6% each to Rs 1,610, Rs 1,238 and Rs 2,185, respectively.

Out of 2,658 stocks traded so far, 2,335 have declined, 288 have advanced and 35 are unchanged.