Sensex drops 90pts

The Sensex tumbled to a low of 11,570, and is now down 90 points at 11,573.

TCS leads the downfall, with a loss of 3.7% at Rs 1,825. Wipro has tumbled over 3% to Rs 519, and Satyam has slipped over 2% to Rs 818. Infosys is down nearly 2% at Rs 3,128.

Hero Honda has shed 2.7% to Rs 846. Grasim and HDFC Bank have declined over 2% each to Rs 2,235 and Rs 806, respectively.

Tata Motors, Cipla, HDFC, Ranbaxy, Larsen & Toubro, ITC and ONGC are the other prominent losers among the Sensex stocks.

Hindalco, however, continues to hold solid gains. The stock is now up 3.4% at Rs 198.

Reliance has added 1.5% to Rs 848. Tata Steel and Tata Power are up over 1% each at Rs 586 and Rs 540, respectively.