Sensex down 88pts; Satyam sheds 3%

The Sensex is now down 88 points at 12,186.

Satyam has shed 2.7% to Rs 836, and ICICI Bank has slipped 2.5% to Rs 648. HDFC Bank has dropped 1.8% to Rs 868.

ITC, HLL, Reliance Energy and Tata Steel have declined around 1.5% each to Rs 188, Rs 254, Rs 461 and Rs 496, respectively.

Larsen & Toubro, Tata Motors, TCS and Dr.Reddy's are down over 1% each.

Grasim has surged over 2% to Rs 2,524. Bajaj Auto and Reliance have moved up nearly 1% each to Rs 2,921 and Rs 1,148, respectively.

Out of 2,514 stocks traded so far, 1,645 have declined, 776 have advanced and the rest are unchanged.