Sensex drops 112pts, Reliance down 3%

The Sensex has declined 112 points to 8,538.

Reliance has slipped 3% (Rs 24) to Rs 784. While ONGC is down Rs 26 at Rs 1,047, ITC is down Rs 3 at Rs 135. SBI has dropped Rs 20 to Rs 920.

Tata Motors has dropped over 3% (Rs 17) to Rs 519. Maruti and Hero Honda are also trading with losses.