The Sensex dropped to a low of 16,537. The index has recovered now and is down 179 poinst at 16,537.
The Nifty is down 59 points at 4,949.
Hero Honda has slumped 4% to Rs 1,555. Mahindra & Mahindra has shed 3.8% to Rs 1,032. Other auto stock - Tata Motors has dipped 2.7% to Rs 747.
Bank stocks are down. SBI has dropped 3.7% to Rs 2,016. ICICI Bank has slipped 2.8% to Rs 808.
Tata Steel is down 3.1% at Rs 591 while Hindalco has dropped 2.5% to Rs 155. Sterlite has declined 2% to Rs 785.
Other stocks which have declined today are DLF, Sun Pharma, Larsen & Tourbo and HDFC.
Hindustan Unilever has slipped 2% to Rs 259, in spite of a jump in Q3 net.
On the other hand, ITC and Reliance Communications have added 1% each to Rs 258 and Rs 181, respectively.
The BSE market breadth is fairly negative. Out of 2,500 stocks traded, 1,551 have declined while 898 have advanced.
