Sensex down 31 pts; HLL, ITC, Cipla surge

Although the market is languishing in negative territory on a range-bound trading activity in techs and other select old economy stocks, buying has spruced up in FMCG and select pharma stocks.

The Sensex, as a result, is now down 31 points at 6,309, while the Nifty is still weak at 1,947 - down 10 points.

Infosys, which dropped sharply in early trades, has pared some losses to Rs 1,923 - down Rs 35 or 1.81%. Wipro (down Rs 7 to Rs 635) and Satyam (down Rs 6 to Rs 410), too, have trimmed their losses.

ONGC has edged lower by 1.36% (Rs 12) to Rs 836. ICICI Bank has slumped 3.87% (Rs 16) to Rs 388.

Bharti (down Rs 4 or 1.80% to Rs 202), L&T (down Rs 5 to Rs 971) and Tisco (down Rs 5 to Rs 354) are still exhibiting weak trends.

ACC has upped its losses by 1.55% (Rs 6) to Rs 365. While Gujarat Ambuja is down Rs 2 at Rs 429, Grasim is up a rupee at Rs 1,220.

Maruti has lost 1.23% (Rs 5) to Rs 426, and Hero Honda is down a rupee at Rs 505. Bajaj (up Rs 7 to Rs 1,090) continues to trade with steady gains.

HLL has jumped 3% (Rs 4) to Rs 142, while ITC has moved up 1.24% (Rs 17) to Rs 1,397. Reliance has added 1.36% (Rs 7) to Rs 555.

Cipla continues to trade with steep gains and has gained 4.96% (Rs 12) to Rs 256. Dr. Reddy's has slipped a per cent (Rs 5) to Rs 661.