Sensex drops 17pts

The Sensex has declined 17 points to 7,958.

Cipla has dropped 3.5% (Rs 13) to Rs 361. Bharti has declined over 3% (Rs 11) to Rs 326.

Tata Motors is down over 3% (Rs 16) at Rs 483. Maruti and Bajaj are also trading with losses. Hero Honda, however, is up over 3% (Rs 22) at Rs 726.

ONGC has moved up 1.6% (Rs 15) to Rs 947. ITC is up a rupee at Rs 118.