Sensex dips 21 pts

After languishing in negative territory in the first half, the market has shed ground following extended selling pressure in most of the heavyweights.

The Sensex, as a result, is now down 21 points at 7,283, while the Nifty is down four points at 2,217.

ONGC has lost 1.19% (Rs 11) to Rs 930, while Reliance has slipped a per cent (Rs 5) to Rs 491.

HDFC Bank has shed 1.67% (Rs 11) to Rs 647, and ICICI Bank is down a per cent (Rs 5) at Rs 462. SBI, however, is up 1.58% (Rs 11) at Rs 729, slightly off its early highs.

HDFC has declined 1.33% (Rs 12) to Rs 889.

Ranbaxy has tumbled 1.53% (Rs 16) to Rs 1,036, while Dr. Reddy's (down Rs 4 to Rs 754) is still exhibiting weak trends. Cipla, however, is up 1.18% (Rs 4) at Rs 329.

TCS (down Rs 7 to Rs 1,278) and Satyam (down Rs 5 to Rs 491) are languishing in negative territories. While Wipro has gained 1.54% (Rs 11) to Rs 713, Infosys is up at Rs 2,230 - up Rs 10.

Hero Honda at Rs 618 (up Rs 10 or 1.73%) is trading at higher levels, while Tata Motors is down a per cent (Rs 4) at Rs 463.

ACC is up 2.31% (Rs 10) at Rs 431. Other cement counters are up with steady gains.