Volatile opening, Sensex down 17 points

The markets displayed volatility in the opening bell. After resuming nine points higher over its yesterday's close at 6,317, the index moved up to touch an early high of 6,330. However, selling pressure in old and new economy stocks pushed the index below the 6,300 mark to a low of 6,276.

The Sensex is now down 17 points at 6,291. The Nifty is down four points at 1,978.

ITC is down a per cent (Rs 7) at Rs 1,266, while HLL is down 1.16% (Rs 2) at Rs 141. Reliance is down a rupee at Rs 532.

Infosys is down Rs 4 at Rs 1,990. While Wipro has slipped a per cent (Rs 4) to Rs 673, Satyam is up a per cent (Rs 3) at Rs 377.

Cipla has lost 2.45% (Rs 7) to Rs 275. While Dr. Reddy's is trading weaker by 1.18% (Rs 9) at Rs 785, Ranbaxy is down Rs 5 at Rs 1,159.

Grasim has shed 1.83% (Rs 23) to Rs 1,250. While ACC is down 1.39% (Rs 5) at Rs 340, Gujarat Ambuja is weaker by 1.35% (Rs 6) at Rs 412.

ICICI Bank is down 1.21% (Rs 4) at Rs 344. Other banking stocks are also trading weak.

Tata Motors has added 1.19% (Rs 6) to Rs 481, and Bajaj is up a per cent (Rs 6) at Rs 1,099.