Sensex drops 160pts; RIL, HDFC down 2%

The Sensex is now down 160 points at 13,918.

HDFC and Larsen & Toubro have shed 2.5% each to Rs 1,638 and Rs 1,698, respectively. Reliance has slipped over 2% to Rs 1,586.

Satyam and Bharti Aritel have dropped 1.7% each to Rs 470 and Rs 820, respectively. ICICI Bank has declined 1.5% to Rs 859.

TCS, BHEL, Gujarat Ambuja and Hero Honda are down over 1% each.

Cipla has surged nearly 3% to Rs 218. Hindalco has gained 1.5% at Rs 148.

Out of 2,633 stocks traded so far, 1,455 have declined, 1,101 have advanced and 77 are unchanged.