Sensex drops 36pts; Adlabs zooms 16%

The Sensex opened with a huge positive gap of 105 points at 8,076, and touched a high of 8,135 in morning deals. Selling pressure in noon deals saw the index drop to a low of 7,838 - an intra-day swing of 297 points. The Sensex finally closed with a loss of 36 points at 7,935.

All the sectoral indices, except BSE Teck and BSE IT, declined today. The BSE Consumer Durables Index plunged over 4% (100 points) to 2,159. The BSE SmallCap Index dropped 2.7% (137 points) to 4,990. The BSE Metal, Capital Goods and FMCG indices declined over 2% each today. The BSE Teck index, however, was up over 1% (23 points) at 2,077.

Declines outnumbered advances 5:1 - out of 2,490 scrips traded, 2,087 declined, 378 advanced and 25 were unchanged today.

ITC slipped 3.6% (Rs 4) to Rs 116. SBI dropped over 2% (Rs 20) to Rs 868. ONGC declined Rs 9 to Rs 938. Reliance was a tad higher at Rs 748, and HLL was flat at Rs 169.

Satyam, which reported a 34% rise in Q2 bottomline, gained over 5% (Rs 30) to Rs 587. While Infosys moved up Rs 38 to Rs 2,538, TCS was up Rs 14 at Rs 1,416.

Tata Power slipped over 5% (Rs 23) to Rs 400. BHEL lost 3% (Rs 36) to Rs 1,123. L&T declined over 2% (Rs 32) to Rs 1,350.

HDFC was down over 2% (Rs 22) at Rs 953. Grasim lost Rs 24 to Rs 1,124. Cipla, Ranbaxy and Hindalco declined over 2% each today.

Reliance Energy gained 2.6% (Rs 13) to Rs 524. Hero Honda moved up 1.6% (Rs 11) to Rs 699. Dr. Reddy's was up Rs 8 at Rs 825.

Bombay Dyeing gained 7% (Rs 20) to Rs 291. Century Enka added 5% to Rs 216. Indo Rama Synthetics, Micro Inks, Exide and Hexaware also moved up today.

Adlabs zoomed 16% (Rs 41) to Rs 297. KPIT Cummins gained 12% to Rs 303. Crisil advanced 6% (Rs 74) to Rs 1,322.

Ispat Industries dropped  9% to Rs 16. Wockhardt also declined 9% to Rs 402.

Suzlon Energy, which was listed yesterday and gained 35% on the first day of trading, dropped 6% (Rs 43) to Rs 647.

Suzlon was the most active counter with a turnover of Rs 275 crore followed by SBI (Rs 274 crore), Satyam (Rs 248 crore), Reliance (Rs 218 crore) and Reliance Capital (Rs 105 crore).