Sensex down 127pts

The Sensex has declined 1.6% (127 points) to 7,623.

Reliance has slipped 1.8% (Rs 13) to Rs 687. ONGC is now down 1.8% (Rs 18) at Rs 972. SBI is steady at Rs 780- down Rs 11.

Satyam has dropped 2.6% (Rs 13) to Rs 500. Infosys has declined Rs 34 to Rs 2,285.

Ranbaxy has declined 3% (Rs 18) to Rs 524. Bajaj is down 3% (Rs 48) at Rs 1,360.

ITC is the lone index scrips trading with gains at Rs 1,696 - up Rs 8.