Sensex drops 147pts; ITC, ICICI shed 2%

The Sensex is now down 147 points at 14,388.

Tata Motors has shed 3.5% to Rs 687.

ONGC, ACC, HDFC, Tata Steel and ICICI Bank have plunged over 2% each to Rs 873, Rs 817, Rs 1,855, Rs 627 and Rs 919, respectively.

ITC has dropped 2% to Rs 159, and BHEL has slipped 1.8% to Rs 1,357.

HDFC Bank has declined 1.7% to Rs 1,140, and Reliance Energy is down 1.5% at Rs 543.

Hindalco has surged 2% to Rs 149. Reliance Communications has moved up nearly 1% to Rs 515.

The market breadth has turned negative - out of 2,513 stocks traded so far, 1,322 have declined, 1,114 have advanced and 77 are unchanged.