Sensex down 98pts; SBI, ITC down 2%

The Sensex is now down 98 points at 11,405.

HDFC has dropped nearly 3% to Rs 1,280. Bajaj Auto, Cipla and Tata Steel have declined over 2% each to Rs 2,687, Rs 246 and Rs 505, respectiely.

SBI, Ranbaxy and ITC are down nearly 2% each to Rs 862, Rs 385 and Rs 179, respectively.

Maruti, ACC and Hindalco are down around 1.5% each at Rs 825, Rs 893 and Rs 162, respectively.

NTPC has spurted 1% to Rs 124. BHEL, Gujarat Ambuja and Satyam are the other notable gainers.

Out of 2,560 stocks traded so far, 1,687 have declined, 817 have advanced and the rest are unchanged.