ICICI Bank, India''s largest private bank led the decliners in the Sensex index. The stock dropped 4.17% at 843.25 rupees.

Tata Steel surged 3.8% to 657.85 rupees and Housing Development Finance Corporation rose 2.7% to 2,660.35 rupees.

ITC climbed 2.1% to 195.10 rupees and Satyam Computer gained 0.5% to 413 rupees.

Among the Sensex declines were Hindustan Unilever which fell 4.3% to 234.40 rupees, Bharti Airtel was down 3.8% to 803.10 rupees, Jaiprakash Associates fell 3% to 226.05 rupees.

State Bank of India declined 1.5% to 1,713.60 rupees and Federal Bank lost 0.5% to 214.25 rupees.

ONGC lost 1.1% to 1,063 rupees and Essar Oil was down 1.1% to 209.35 rupees. Sterlite Industries gained 0.8% at 709.90 rupees.

TCS gained 0.4% at 879.30 rupees and Infosys Technologies jumped 0.2% at 1,495.60 rupees. However, Wipro fell 1.3% at 429 rupees.

Shipping firm Mercator Lines rose 6.8% to 76.15 rupees after the company said its subsidiary Mercator Lines in Singapore announced entered into negotiation with Refined Success for a time charter.

Reliance Update

Oil refiner Reliance Industries lost 0.7% to 2,298.70 rupees and Reliance Natural Resources was down 2.5% to 99.75 rupees.

Reliance Communication fell 2.3% to 526.10 rupees.