Sensex dips 26 pts, Ranbaxy slides

The market has taken a dip in mid-noon trades as fresh selling has emerged in heavyweights, tech, banking and other select old economy stocks. Although buying is seen in auto stocks, the Sensex has shed 26 points to 6,342. The Nifty is down six points at 1,978.

Reliance has slipped a per cent (Rs 5) to Rs 543, and HLL is down a rupee at Rs 130.

ICICI Bank has shed 3.36% (Rs 13) to Rs 377. HDFC Bank has lost a per cent (Rs 6) to Rs 531. SBI, however, is still trading a per cent higher (Rs 4) at Rs 645.

Infosys (down Rs 7 to Rs 2,160), Wipro (down Rs 11 to Rs 631) and Satyam (down Rs 3 to Rs 396) have edged lower on fresh selling.

Ranbaxy has tumbled 3.77% (Rs 40) to Rs 1,023. While Dr. Reddy's is down a per cent (Rs 7) at Rs 733, Cipla is up a rupee at Rs 252.

BHEL has lost 1.24% (Rs 9) to Rs 754. While Tisco is down 1.74% (Rs 7) at Rs 394, Bharti is still trading lower at Rs 203 - down Rs 3.

ONGC, however, is trading firm with a gain of 2.74% (Rs 23) at Rs 857. HDFC has gained 5.25% (Rs 36) to Rs 725.

Hero Honda, on further buying support, has soared 5.10% (Rs 26) to Rs 546. Bajaj (up Rs 4 to Rs 1,024) and Maruti (up Rs 5 to Rs 416) are holding on to their gains. Tata Motors, however, is down a rupee at Rs 407.