Sensex down 9 pts, auto stocks slide

The market has drifted into the red, after a flat opening and a subsequent rise, following sustained selling pressure in auto stocks, select heavyweights and tech pivotals.

The Sensex, which slipped to a low of 7,334, is now down nine points at 7,338. The Nifty is flat at 2,234.

The market breadth, however, is positive, with 1,206 gainers against 1,011 losers on the BSE.

Hero Honda has slumped 2.96% (Rs 19) to Rs 635, while Bajaj has lost a per cent (Rs 15) to Rs 1,406. Tata Motors is also trading lower at Rs 465.

ITC has tumbled 1.84% (Rs 32) to Rs 1,705. ONGC is marginally down at Rs 916. Reliance Industries and Reliance Energy, however, are up a per cent each at Rs 666 and Rs 664, respectively.

Infosys has slipped a per cent (Rs 14) to Rs 2,258, and TCS is marginally down at Rs 1,319. Wipro and Satyam are trading with modest gains at Rs 714 and Rs 498, respectively.

While SBI has moved up 1.20% (Rs 9) to Rs 725, HDFC Bank is up 1.35% (Rs 8) at Rs 636.

BHEL has gained 1.62%  (Rs 15) to Rs 915.

Select PSU stocks have notched up significant gains. HMT has shot up 11.74% (Rs 8) to Rs 79, and NFL has advanced 9.69% (Rs 4) to Rs 45. While RCF has gained 8.43% (Rs 4) to Rs 49, ICI is up 4.13% (Rs 11) at Rs 282.