Sensex drops 65pts, PNB down 4%

The Sensex has dropped 1% (65 points) to 6,446.

Reliance has slipped 1.4% (Rs 8) to Rs 559. ITC has dropped 1.6% (Rs 20) to Rs 1,295. ONGC has declined 1.5% (Rs 13) to Rs 848. SBI has lost Rs 10 to Rs 656. HLL is down a rupee at Rs 134.

Infosys is down 1.2% (Rs 26) to Rs 2,165. Satyam and Wipro continue to trade on a weak note.

Dr. Reddy's has declined 1.4% (Rs 11) to Rs 761. Ranbaxy has lost Rs 8 to Rs 1,064.

Grasim is down 1.5% (Rs 18) to Rs 1,195. Gujarat Ambuja and ACC are also trading with losses.

Bank scrips are trading on a weak note. PNB has declined 4% to Rs 402. ING Vysya has declined 23% to Rs 140. BoI, J&K Bank, Kotak Bank, ICICI Bank, Andhra Bank and BoB are trading with losses.

Ispat is at the top of the volume chart with trades in over 32 lakh shares followed by SAIL (17.70 lakh shares) and PNB (13.08 lakh shares).

PNB is the top traded counter with a turnover of Rs 52 crore followed by Tata Steel (Rs 30 crore) and Reliance (Rs 28 crore).