[Haskell-beginners] 2014 haskell cabal update hangs on mac

I initially installed haskell platform ( 2013 version; 7.6.3 ghc ) on my mac. Everything was working great. Just now saw the haskell platform website again and found new version was released ( Haskell Platform 2014.2.0.0 for Mac OS X, 64bit ). I installed it, and un-installed the older version using uninstall-hs. Now when i type "cabal" or "cabal update" on my terminal, it hangs. Actually when i look into Activity Monitor, i can see that it is invoking some "sh script & possibly some find command" infinitely. I initially guess may be it is building some indexes. but it has been running for an hr or so. I have Xcode 5, gcc and other command line tools installed properly Please advice. I cannot install any other package using cabal.