Sensex drops 8pts, ONGC gains 3%

The Sensex opened with a small positive gap of four points at 8,827, but dropped to a low of 8,784 in late morning deals. Buying at lower levels saw the index move up to a high of 8,915 - an intra-day swing of 131 points. Profit-taking at higher levels saw the index shed all the gains, and finish the day with a loss of eight points at 8,815.

SBI declined 1.4% (Rs 12) to Rs 880. HLL was down Rs 2 at Rs 186, and ITC was down a rupee at Rs 133.

Grasim slipped over 2% (Rs 29) to Rs 1,371. Bharti dropped 1.8% (Rs 6) to Rs 341.

Tata Motors slipped Rs 5 to Rs 550, and Bajaj was down Rs 8 at Rs 1,988.

BHEL dropped Rs 23 to Rs 1,380. HDFC Bank, ICICI Bank, Tata Steel and Hindalco also declined today.

ONGC moved up 2.8% (Rs 28) to Rs 1,052. Reliance Energy was up 2% (Rs 14) at Rs 617. Tata Power added Rs 7 to Rs 434.

TCS gained 1.8% (Rs 27) to Rs 1,555. Infosys moved up Rs 10 to Rs 2,797. While Wipro was up Rs 6 at Rs 428, Satyam was up Rs 3 at Rs 654.