ICICI Bank, Nalco, Maruti, Ranbaxy, Satyam, SBI, Tata Motors, , ACC, Ambuja Cements, Bajaj Auto, Bharti Airtel, BHEL, Cipla, HDFC Bank were trading in red.

Mastek was up 20% and is locked in upper circuit in the morning trade on the back of good first quarter numbers and on buyback news.

Koutons Retail has listed at Rs 519, up 25% over its offer price of Rs 415.

On weekly basis Sensex was up 3.8% and Nifty was up 4.8%. Telecom stocks like Reliance Communication, VSNL and power stocks like Reliance Energy and Tata Power were among the top gainers.

Sensex was down 395.03 points or 2.10% at 18419.04, and the Nifty down 96.60 points or 1.75% at 5428.25.

About 1192 shares have advanced, 1780 shares declined, and 73 shares are unchanged.