Sensex drops 482pts; ICICI Bank, ITC slip 4%

The Sensex has dropped 482 points to 20,246.

Bharti Airtel has slumped 5.8% to Rs 855. ICICI Bank and ITC have plunged nearly 4% each to Rs 1,354 and Rs 216, respectively.

Reliance Energy and NTPC have dropped over 3.5% each to Rs 2,383 and Rs 275, respectively.

Reliance Communications has shed 3.3% to Rs 779. Mahindra & Mahindra and Larsen & Toubro have slipped 2.7% each to Rs 735 and Rs 4,054, respectively.

Satyam, DLF and HDFC have declined around 2.5% each to Rs 389, Rs 1,174 and Rs 2,900, respectively.

Tata Steel has moved up 1.6% to Rs 852, and Maruti has added 1.3% to Rs 866.

Out of 2,880 stocks traded so far, 1,812 have declined, 1,031 have advanced and 37 are unchanged.