Sensex drops 56 pts as selling perks up

The market continues with its correction mode in early noon trades as selling has picked up in select heavyweights, tech, auto, cement and other old economy counters. The Sensex, as a result, has dropped 56 points at 6,552, and the Nifty has slumped 21 points to 2,048.

Reliance and ITC are down Rs 2 each at Rs 533 and Rs 1,303, respectively. HLL is still in the green with a rupee gain at Rs 145.

Infosys has scaled down nearly 2% (Rs 42) to Rs 2,141. While Wipro has declined 1.48% (Rs 10) to Rs 697, Satyam is subdued at Rs 404.

SBI has extended its losses by 1.30% (Rs 9) to Rs 655. ICICI Bank has slipped 1.44% (Rs 5) to Rs 370.

Ranbaxy has shed 1.51% (Rs 16) to Rs 1,035. Other pharma majors are also trading at weaker levels.

Grasim has shed a per cent (Rs 13) to Rs 1,352. While Gujarat Ambuja has dipped 1.15% (Rs 5) to Rs 438, ACC is down a per cent (Rs 3) at Rs 365.

Hero Honda has tumbled 3% (Rs 17) to Rs 533. Bajaj and Tata Motors are still trading with a per cent loss each at Rs 1,038 (down Rs 8) and Rs 487 (down Rs 5), respectively.

Hindalco has crashed 2.40% (Rs 33) to Rs 1,352. While Bharti has lost 2.12% (Rs 5) to Rs 210, Tata Power is down 1.41% (Rs 6) at Rs 411.