Sensex drops 251pts; Ranbaxy slumps 10%

The Sensex is now down 251 points at 9706.

Ranbaxy has slumped 9.6% to Rs 351. Larsen & Toubro has shed 6.5% to Rs 1,990.

NTPC has tumbled over 5% to Rs 101. Reliance Energy and SBI have dropped over 4.5% each to Rs 405 and Rs 803, respectively.

Tata Steel has shed 3.7% to Rs 462. ONGC is down 3.5% at Rs 1,004.

Out of 2,359 stocks traded so far, 2,173 have declined, 157 have advanced and 29 are unchanged.