Ranbaxy up 5.1%; ONGC down 7.1%

The Nifty is trading 116 points lower at 4384.

Ranbaxy has gained 5.1% to Rs 526, Cipla is up1.7% at Rs 206. Reliance has gained 0.4% to Rs 2,163.

Bhel has advanced 0.3% to Rs 1,374. M&M and HUL have advanced less than half per cent.
 
ONGC is down 7.1% to Rs 872.  HDFC has declined 6.1% to Rs 2,206. HDFC Bank is down 5.2% to Rs 1,183.

ICICI Bank and TCS have declined 4.5% to Rs 750 and Rs 915, respectively. Infosys, Satyam, Reliance Infra, ITC, Jaiprakash Associates, RCom and Wipro are the other losers.