Bearish opening, Sensex down 49 pts

 The Sensex is now down 49 points at 6,406. The Nifty, too, has fallen sharply in early trades and has shed 16 points to 1,978.

ICICI Bank has dropped 2% (Rs 8) to Rs 384. While HDFC Bank has shed 1.49% (Rs 8) to Rs 531, SBI is down Rs 2 at Rs 615.

Infosys has slipped a per cent (Rs 22) to Rs 2,039. While Satyam has tumbled 2.37% (Rs 10) to Rs 420, Wipro is down a per cent (Rs 6) at Rs 642.

ONGC is down a per cent (Rs 7) at Rs 872. Reliance and HLL are marginally down at Rs 542 and Rs 133, respectively.

Hindalco has lost 1.49% (Rs 18) to Rs 1,183, while Tisco is down 1.20% (Rs 4) at Rs 354.

Ranbaxy has lost a per cent (Rs 8) to Rs 961. While Dr. Reddy's has dipped 1.47% (Rs 10) to Rs 655, Cipla is trading a rupee lower at Rs 273.