Sensex drops 280pts; HDFC, Tata Mot down 4%

The Sensex dropped to a low of 9528 - down 331 points from the day's high of 9859. The index is now down 280 points at 9530.

Tata Steel has dropped 5.5% to Rs 432. Grasim has slipped over 4% to Rs 1,700.

HDFC and Tata Motors have shed 4% each to Rs 1,160 and Rs 727, respectively.

Reliance Energy and Reliance Communication Ventures has delinced 3.5% each to Rs 418 and Rs 213, respectively.

HLL and BHEL have slipped over 3% each to Rs 201 and Rs 1,815, respectively.

ONGC and NTPC are down 2.8% each at Rs 965 and Rs 106, respectively.

Out of 2,017 stocks traded so far, 1,442 have declined, 531 have advanced and the rest are unchanged.