Sensex declines on Infosys, RIL weakness

Following the emergence of fresh selling pressure in old and new economy stocks, the market has drifted into the red in mid-noon trades. While buying remains stock-specific, the Sensex has declined to 6,601 - down four points. The Nifty, too, has edged lower and is down five points at 2,063.

Reliance has edged lower by a per cent (Rs 5) to Rs 559. While ITC has slipped a per cent (Rs 9) to Rs 1,348, ONGC and HLL are down a rupee each at Rs 879 and Rs 131, respectively.

Infosys has declined a per cent (Rs 18) to Rs 2,226. Wipro and Satyam, however, are trading in the green with trimmed gains at Rs 685 and Rs 425, respectively.

SBI at Rs 667 (down Rs 3) and HDFC Bank at Rs 550 (down Rs 2) are trading lower. ICICI Bank, however, continues to trade with strong gains at Rs 421 - up Rs 16 or 3.87%.

HPCL has slumped 3.75% (Rs 12) to Rs 311, while Tisco is down 1.53% (Rs 6) at Rs 403.

Bajaj (down Rs 24 or 2.16% to Rs 1,066), Maruti (down Rs 12 or 2.84% to Rs 420) and Tata Motors (down Rs 8 or 1.94% to Rs 426) are still trading with losses.

Dr. Reddy's and Cipla continue to trade with steady gains at Rs 747 and Rs 262, respectively.

HDFC is up 1.14% (Rs 8) at Rs 725, and L&T has gained 1.25% (Rs 13) to Rs 1,035.