Sensex drops 314pts; HDFC, L&T decline 2%

The Sensex has slipped deeper into red and is now down 314 points at 20,414.

Bharti Airtel has slumped 5.4% to Rs 858. ICICI Bank has plunged 3.5% to Rs 1,358.

Mahindra & Mahindra has shed 2.7% to Rs 735. HDFC, Larsen & Toubro and ITC have slipped nearly 2% each to Rs 2,920, Rs 4,088 and Rs 220, respectively.

DLF, NTPC and TCS have dropped 1.7% each to Rs 1,185, Rs 280 and Rs 945, respectively.

Reliance Communications and Ranbaxy have declined over 1.5% each to Rs 792 and Rs 393, respectively.

Maruti has rallied 2.2% to Rs 874, and Tata Steel has gained 1.7% at Rs 853.

Out of 2,864 stocks traded so far, 1,505 have declined, 1,324 have advanced and 35 are unchanged.