Sensex drops 4pts; ONGC gains 3%

The Sensex opened with a positive gap of 14 points at 6,588, and touched a high of 6,623 in morning deals. The index drifted into negative zone by noon, and dipped to a low of 6,544 - an intra-day swing of 79 points.

After moving in a narrow band in late noon deals, the Sensex finished the pre-budget day with a loss of four points at 6,570.

While 18 index scrips declined with a volume of 79 lakh shares totalling Rs 383 crore, 12 advanced with a volume of 66 lakh shares for Rs 327 crore.

Heavyweights finished on a mixed note. HLL was down 1.7% (Rs 2) at Rs 140. Reliance declined 1.3% (Rs 7) to Rs 540. ITC slipped nearly a per cent (Rs 10) to Rs 1,287. SBI was also down nearly a per cent (Rs 6) at Rs 685.

ONGC gained over 3% (Rs 25) to Rs 842. Infosys was up nearly a per cent (Rs 18) at Rs 2,180.

Bharti advanced nearly 3% (Rs 6) to Rs 220. L&T gained more than 2% (Rs 24) to Rs 1,082. Ranbaxy was up 1.8% (Rs 18) at Rs 1,020. Hindalco was up 1.4% (Rs 20) at Rs 1,395.

HDFC declined nearly 2% (Rs 14) to Rs 757. HDFC Bank, ICICI Bank, HPCL, Dr. Reddy's, Wipro and Zee also declined.

While Gujarat Ambuja moved up over a per cent (Rs 5) to Rs 434, ACC was up a rupee at Rs 361. Grasim, however, was down Rs 8 at Rs 1,319.

Bajaj gained Rs 6 to Rs 1,020, and Maruti was up Rs 2 at Rs 474. Hero Honda was down 3% (Rs 16) at Rs 520, and Tata Motors was down Rs 2 at Rs 470.