Sensex drops 169pts; Rel Comm, L&T drag

The Sensex is now down 169 points at 12,375.

Reliance Communications and Larsen & Toubro have dropped over 4% each to Rs 374 and Rs 1,433, respectively.

Gujarat Ambuja has shed 3% to Rs 103, and BHEL has dropped 2.5% to 1,957.

ACC, Infosys, Hero Honda and Reliance Energy have slipped around 2% each to Rs 716, Rs 2,035 and Rs 453, respectively.

HDFC Bank, SBI, Maruti and Tata Steel were the other major losers.

Tata Motors has gained 1.5% at Rs 737. Dr.Reddy's has moved up 1% to Rs 682.

Out of 2,439 stocks traded so far, 1,734 have declined, 642 have advanced and 63 are unchanged.