Sensex dips 27 pts, Infosys fall sharply

The Sensex opened 16 points lower over its previous close at 6,324, and slumped further to a low of 6,300 on sustained selling pressure in old and new economy stocks.

The Sensex is now down 27 points at 6,313, while Nifty has lost 10 points to 1,947.

Infosys, following overnight slump in the US markets, has dropped 3.57% (Rs 70) to Rs 1,889. While Wipro has slipped a per cent (Rs 7) to Rs 635, Satyam is down Rs 2 at Rs 414.

ICICI Bank has shed 1.61% (Rs 6) to Rs 397. While SBI is up Rs 2 at Rs 626, HDFC Bank is up a rupee at Rs 539.

Reliance has commenced firm with gain of 1.11% (Rs 6) to Rs 553. While ITC is up Rs 4 at Rs 1,384, ONGC is down Rs 2 at Rs 846.  HLL is down a notch at Rs 138.

Cipla has advanced 4.57% (Rs 11) to Rs 255, and Ranbaxy is up a rupee at Rs 916.

Auto and cement stocks are largely divergent in early trades.