Sensex drops 246pts; SBI down 4%

The Sensex is now down 246 points at 13,153.

Reliance Energy has slumped 4.5% (Rs 24) to Rs 502. SBI, Tata Motors and BHEL have tumbled nearly 4% each to Rs 1,190, Rs 806 and Rs 2,435, respectively.

Maruti and HDFC have dropped 3.5% each to Rs 876 and Rs 1,493, respectively.

ACC, TCS and HLL are down around 3% each to Rs 1,004, Rs 1,135 and Rs 223, respectively.

Out of 2,527 stocks traded so far, 1,799 have declined, 669 have advanced and 59 8 are unchanged.