The Sensex opened on a higher note at 6,617 (up 12 pts) and soon touched a high of 6,649 on extended buying in select counters. The markets, however, plunged into the red immediately as stocks gave up gains on the resumption of selling pressure.
Though the markets revovered from the lower levels, it moved with steady gains thereafter due to lack of fresh buying activity. The Sensex tumbled sharply in mid-noon trades as steep fall in old economy stocks dragged it to a low of 6,586.
The closing hours of the trading session saw the Sensex oscillate between positive and negative zone, before finally closing down a point at 6,604. The Nifty, after a sluggish trading session, ended four points lower at 2,064.
ONGC, on late buying, flared up 1.48% (Rs 13) to Rs 894. While Reliance closed up a notch at Rs 565, ITC lost Rs 8 to Rs 1,350. HLL was down a rupee at Rs 131.
Wipro gained a per cent (Rs 7) to Rs 681, and Satyam was up a rupee at Rs 423. Infosys, however, declined a per cent (Rs 14) to Rs 2,230.
Gujarat Ambuja moved up 2.81% (Rs 12) to Rs 425. While Grasim was up Rs 4 at Rs 1,233, ACC ended a per cent lower (Rs 3) at Rs 362.
L&T scaled up 1.16% (Rs 12) to Rs 1,034, while Zee was up 1.89% (Rs 3) at Rs 140.
Dr. Reddy's and Cipla ended with steady gains at Rs 745 and Rs 262,
SBI (down Rs 4 to Rs 666) and HDFC Bank (down Rs 2 to Rs 550) ended at subdued levels. ICICI Bank, however, traded firm through the session and jumped 3.19% (Rs 13) to Rs 419.
Bajaj dropped 3.10% (Rs 34) to Rs 1,056, and Hero Honda lost 1.49% (Rs 8) to Rs 535. While Maruti slumped 2.88% (Rs 12) to Rs 420, Tata Motors shed 2.30% (Rs 10) to Rs 424.
BHEL declined 2% (Rs 16) to Rs 786. While Tisco plunged 3.82% (Rs 16) to Rs 394, Tata Power dipped a per cent (Rs 4) to Rs 358.
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