Sensex drops 95 pts

The market has plunged deep into the red as old and new economy stocks continue to plummet following sharp selling pressure. The Sensex, which touched a current low of 6,311, has crashed 95 points to 6,325.

The Nifty has lost 32 points to 1,983.

ITC has shed 1.79% (Rs 23) to Rs 1,275. While Reliance is down a per cent (Rs 6) at Rs 35, HLL is up a rupee at Rs 142. Wipro has dropped 3.35% (Rs 23) to Rs 676.

Infosys has scaled down 2% (Rs 42) to Rs 2,009, and Satyam hs dipped 2.92% (Rs 11) to Rs 376.

SBI has tumbled 2.31% (Rs 14) to Rs 601, and ICICI Bank is down 2.44% (Rs 9) at Rs 350.

Ranbaxy has plunged nearly 3% (Rs 36) to Rs 1,165. Dr. Reddy's has declined 2% (Rs 16) to Rs 794, and Cipla has lost 1.58% (Rs 5) to Rs 287.

Gujarat Ambuja has slipped nearly 2% (Rs 8) to Rs 419, and ACC is down 1.16% (Rs 4) at Rs 346. Grasim is down a per cent (Rs 13) at Rs 1,281.

Bharti is still trading at lower levels with a loss of 3.63% (Rs 8) at Rs 203. Tata Power has shed 4.31% (Rs 16) to Rs 353.

Banking stocks have come under sharp selling pressure. BoB has tanked 9.60% (Rs 24) to Rs 224, and PNB has dropped 3.60% to Rs 388. While J&K Bank has slipped 3.53% to Rs 364, IDBI Bank has lost 3.31% to Rs 72.

BSE Teck index has lost 2% (down 34 pts) to 1,658, followed by BSE IT index (down 2.19%) to 2,500 and BSE Bankex (down 1.73%) to 3,504, respectively.

Alka India is still leading the volume table with over 2.28 crore shares traded on the BSE so far, followed by Petronet LNG (1.30 crore), Centurion Bank (93.36 lakh), Sail (84.35 lakh) and Goyal Associates (72.71 lakh), respectively.