Selling intensifies, Bharti sheds 4%

Sustained selling in old economy stocks gained momentum which pushed the index to a low of 6,700. Although select tech counters continue to trade with steady gains, the Sensex has shed more ground to 6,703 - down 44 points. The Nifty is down 15 points 2,111.

Reliance has dropped 1.34% (Rs 8) to Rs 56. While ONGC is down Rs 4 at Rs 904, HLL is down a rupee at Rs 135.

HDFC Bank has shed 2.21% (Rs 13) to Rs 581. Other banking stocks are trading with marginal losses.

HPCL has edged lower by 1.66% (Rs 6) to Rs 334.

Bajaj is trading a per cent lower (Rs 11) at Rs 1,083, and Hero Honda is down 1.36% (Rs 7) at Rs 546. While Maruti has declined nearly 2% (Rs 9) to Rs 441, Tata Motors is down a per cent (Rs 4) at Rs 452.

Bharti, on further selling pressure, has tumbled 4.25% (Rs 9) to Rs 201. While L&T is down 1.21% (Rs 13) at Rs 1,055, Tisco has lost 1.19% (Rs 5) to Rs 435.

Grasim has slumped 1.81% (Rs 24) to Rs 1,316. Other cement counters are also trading at lower levels.

ITC (Rs 4 to Rs 1,341), Infosys (up Rs 6 to Rs 2,198) and Wipro (up Rs 3 to Rs 684), however, are still trading with steady gains.