Sensex drops 53pts

The Sensex has now declined 53 points to 8,558.

ONGC has dropped 2.4% (Rs 24) to Rs 996. Reliance has slipped Rs 6 to Rs 822. SBI is down Rs 14 at Rs 877.

Ranbaxy has declined 2.9% (Rs 11) to Rs 379. HDFC is down 1.8% (Rs 19) to Rs 1,050.

L&T is still up Rs 28 at Rs 1,577.