The Sensex has dropped sharply to a low of 16,890. The index is now down 226 points at 16,909.
______________________________________
(Updated at 1408 hrs)
The Sensex has not shown any major movement and is now near its low at 16,941. The Nifty is down 56 points at 5,026.
The BSE realty, bankex and oil & gas indices are the major draggers. The indices have dropped over 1% each.
Bharti Airtel has plunged 8% to Rs 400. Grasim has umbled 6% to Rs 2,543. Reliance Communications has shed 4% at Rs 305.
Jaiprakash Associates and Hindalco have dropped 3% each to Rs 232 and Rs 123, respectively.
Maruti Suzuki, Tata Motors, SBI, DLF, TCS, Reliance, Tata Steel, Sterlite and ICICI Bank have slipped 1-2% each.
Meanwhile, Reliance Infrastructure and Mahindra & Mahindra have added over 2.5% each to Rs 1,240 and Rs 916, respectively. ITC, Sun Pharma and Hindustan Unilever are up 1% each.
The market breadth continues to be negative. Out of 2,751 stocks traded 1,816 have declined while 867 have advanced.
