Slide continues, Sensex down 47 pts

Selling has intensified in old economy stocks, with the index tumbling further to a low of 6,678 in mid-noon trades.

The Sensex, in current trades, is now down 47 points at 6,683. The Nifty, too, edged lower by 15 points to 2,073.

Reliance, on a volume of over 14.23 lakh, has declined 1.18% (Rs 6) to Rs 534, and ITC has shed 1.40% (Rs 22) to Rs 1,569. While HLL has lost 1.57% (Rs 2) to Rs 147, ONGC is down a per cent (Rs 5) at Rs 925. Over four lakh ONGC shares have traded on the BSE so far.

Infosys (down Rs 9 to Rs 2,212), Wipro (down Rs 7 to Rs 704) and Satyam (down Rs 2 to Rs 453) are trading at subdued levels.

ICICI Bank is down 1.15% (Rs 5) at Rs 394. While SBI is up Rs 2 at Rs 661, HDFC Bank is holding on to its gains at Rs 539 - up Rs 4.

Hindalco (down Rs 14 or 1.25% to Rs 1,099), BHEL (down Rs 17 or 1.88% to Rs 866) and Reliance Energy (down Rs 10 or 1.83% to Rs 517) have shed more ground.

Grasim has declined 1.24% (Rs 14) to Rs 1,111, and ACC is trading 1.42% lower (Rs 5) at Rs 374. Grasim is down a per cent (Rs 4) at Rs 447.

L&T, however, has flared up 3% (Rs 32) to Rs 1,082.

Metal stocks continue to slide on steep selling pressure. Mukand has shed 6.23% (Rs 4) to Rs 67, and Southern Iron & Steel has lost 5.90% (down a rupee) to Rs 22. While Lloyd Steel has declined 4.79% to Rs 17, Tata Metalis is down 4.56% at Rs 139. Uttam Galva, Bhushan Steel, Monnet Ispat, Ispat, Sterlite Indsutries and Sesa Goa, too, are trading 2-4% lower.

Capital Goods major Kirloskar Brothers, however, has soared 6.67% (Rs 107) to Rs 1,708.