Fresh selling sparks Sensex slide

After trailing by nearly 30-35 points lower, the market has dipped sharply in current trades owing to fresh round of selling pressure in most of the old and new economy stocks.

The Sensex, as a result, has dropped 59 points to 6,407, while the Nifty, too, has scaled down to 1,975 - down 16 points.

Infosys is down 1.91% (Rs 39) at Rs 2,025, and Wipro is down a per cent (Rs 4) at Rs 649. Satyam (down Rs 2 to Rs 428) has slipped from its steady gains.

ONGC is trading lower by 1.50% (Rs 13) at Rs 859. ITC is up with a steady gain of Rs 4 at Rs 1,483.

BHEL has slumped 2.64% (Rs 23) to Rs 840, while Bharti has declined 2.25% (Rs 5) to Rs 215. Hindalco has scaled down 2.51% (Rs 30) to Rs 1,179.

SBI (up Rs 10 or 1.57% to Rs 637) has pared gains on profit-taking, while ICICI Bank has extended its losses by 1.71% (Rs 6) to Rs 321.

Tata Motors has lost 2.48% (Rs 11) to Rs 436, and Bajaj has slipped a per cent (Rs 12) to Rs 1,166. Hero Honda, however, continues to trade with gains at Rs 555 - up Rs 5.