Sensex drops 91pts; Hero Honda moves up

The Sensex opened with a negative gap of 12 points at 6,447. Sustained selling saw the index drop to a low of 6,324 - a drop of 135 points from the previous close. Selective buying saw the index move briefly into positive zone in noon deals.

The bounce, however, turned out to be a false call and selling resumed again, which dragged the index deep into negative zone. The Sensex finally closed with a loss of 91 points (1.53%) at 6,367.

The Sensex has thus lost 283 points in two straight sessions.

Index scrips witnessed heavy volumes and traded value spikes today. While 26 Sensex scrips declined with a volume of 2.01 crore totalling Rs 1,020 crore, four advanced with a volume of 21 lakh for Rs 59 crore.

Heavyweights were dumped for the second consecutive day. SBI dropped more than 2% (Rs 13) to Rs 605. HLL declined Rs 3 to Rs 142. Reliance dropped Rs 4 to Rs 526. While ITC was down Rs 17 at Rs 1,277, Infosys slipped Rs 9 to Rs 2,043. ONGC declined 1.7% (Rs 13) to Rs 784.

Gujarat Ambuja declined 2% (Rs 10) to Rs 416. While ACC was down Rs 5 at Rs 344, Grasim dropped Rs 7 to Rs 1,296.

Bajaj dropped 1.6% (Rs 17) to Rs 1,071. Tata Motors was down 2% (Rs 8) to Rs 495.

Tisco lost nearly 4% (Rs 13) to Rs 355. Hindalco dropped nearly 3% (Rs 38) to Rs 1,329. BHEL declined 2% (Rs 16) to Rs 739. Dr. Reddy's was down 2.6% (Rs 21) to Rs 801. Wipro lost 2% (Rs 17) to Rs 689.

Hero Honda moved up 2% (Rs 9) to Rs 575. Reliance Energy was up Rs 5 at Rs 545. Bharti was up a rupee at Rs 211. HPCL was marginally higher at Rs 393.