Sensex sheds 41 pts, selling flares up

After a mixed early trades, the market has taken a sharp dip with selling intensifying in select heavyweights, banking, tech and other select counters.
The Sensex, which slipped below the 7,200-mark to touch a low of 7,187, is now down 41 points at 7,207. The Nifty has dropped 15 points to 2,189.

The breadth of the market, however, is positive, with 1,206 gainers against 990 losers on the BSE.

Reliance has declined 1.11% (Rs 7) to Rs 624, while ONGC, after a weak opening, has lost 1.51% (Rs 14) to Rs 911. ITC, however, has scaled up 1.28% (Rs 22) to Rs 1,752.

ICICI Bank has dropped 2.32% (Rs 11) to Rs 453. While SBI has shed a per cent (Rs 7) to Rs 719, HDFC Bank is down a tad at Rs 644.

TCS has tumbled 2% (Rs 26) to Rs 1,244. Infosys and Wipro have lost a per cent each to Rs 2,184 (down Rs 19) and Rs 703 (down Rs 6), respectively.

Hero Honda has shed 2% (Rs 13) to Rs 623. Bajaj (down Rs 7 to Rs 1,382), too, is trading at weaker levels.

IT stocks have lost ground. Hexaware has shed 11.72% (Rs 14) to Rs 107. While KPIT Cummins has declined 2.99% to Rs 365, Igate is down 2.86% at Rs 222.

Capital goods stocks, however, have logged steady gains. HMT has shot up 6.68% (Rs 4) to Rs 62, and Astra Mirco has advanced 5% (Rs 83) to Rs 1,736. While Nelco has jumped 3.31% to Rs 45, Fag Bearing is up 2.78% at Rs 229.