Market wilts, heavyweights drag

The market in late noon trades has slipped back into the red as heavyweights, select tech and other old economy stocks have come under extended selling pressure, while banking, power and cement stocks are still exhibiting gains.

The Sensex has lost 16 points to 6,537, while the Nifty is down six points at 2,054.

Reliance is down a per cent (Rs 4) at Rs 539. While HLL has shed 2.37% (Rs 4) to Rs 165, ITC is trading lower by a per cent (Rs 13) at Rs 1,337.

Wipro has lost 1.15% (Rs 8) to Rs 687, and Satyam is down a rupee at Rs 407. Infosys, however, is still trading with a per cent gain (Rs 18) at Rs 2,082.

Bajaj is still down a per cent (Rs 6) at Rs 1,043. Other pharma majors are also trading at lower levels.

HDFC has declined 1.18% (Rs 9) to Rs 766.

SBI has moved up 3% (Rs 19) to Rs 653. While ICICI Bank has gained 1.38% (Rs 5) to Rs 367, HDFC Bank is still trading weaker by a per cent (Rs 5) at Rs 556.

Ranbaxy has lost 1.47% (Rs 16) to Rs 1,055. Dr. Reddy's and Cipla are up with marginal gains at Rs 713 and Rs 284, respectively.

BHEL is trading firm with a gain of 4.15% (Rs 31) at Rs 789, and Reliance Energy is up 1.71% (Rs 10) at Rs 570. Tata Power has jumped 3.89% (Rs 15) to Rs 394.

While Hindalco has advanced 2.75% (Rs 37) to Rs 1,368, Tisco is up a per cent (Rs 3) at Rs 385.

Grasim and Gujarat Ambuja are up a per cent each at Rs 1,335 and Rs 452, respectively. ACC is trading a tad higher at Rs 355.