Sensex drops 110pts; ITC sheds 3%

The Sensex is now down 110 points at 13,911.

ITC has shed 2.7% to Rs 169. Hindalco, Cipla, Grasim and SBI have dropped 1.7% each to Rs 146, Rs 244, Rs 2,375 and Rs 1,062, respectively.

Dr.Reddy's has declined 1.4% to Rs 701. Hero Honda, ACC and Bharti Airtel are down 1% each to Rs 708, Rs 954 and Rs 794, respectively.

Satyam has gained 1.5% at Rs 466, and Reliance has moved up over 1% to Rs 1,430.

The market breadth is negative - out of 1,880 stocks traded so far, 1,227 have declined, 604 have advanced and the rest are unchanged.