Sensex down 16 pts; tech, banking stocks weak

The Sensex opened nine points higher over its last close at 7,806. After advancing to a high of 7,818, the index drifted into the red following sustained selling pressure in tech, banking and other select heavyweights, and touched a low of 7,759.

The Sensex is now down 16 points at 7,781. The Nifty, however, is up a point at 2,369.

Infosys has dropped a per cent (Rs 17) to Rs 2,295. Satyam has dipped 1.55% (Rs 8) to Rs 531. TCS and Wipro are also trading at lower levels at Rs 1,287 and Rs 728, respectively.

HDFC Bank and ICICI Bank have lost a per cent each to Rs 678 (down Rs 6) and Rs 508 (down Rs 5), respectively.

Reliance is trading lower at Rs 727.

Bajaj has shed 1.61% (Rs 25) to Rs 1,508, while Hero Honda has lost 1.20% (Rs 8) to Rs 623. Tata Motors, however, is up a per cent (Rs 5) at Rs 507.

Bharti has soared nearly 4% (Rs 11) to Rs 295, and Hindalco has added 1.27% (Rs 17) to Rs 1,350. L&T, however, has slumped 1.96% (Rs 27) to Rs 1,338, after a steep upsurge in yesterday's trades.