Sensex sheds 250pts; tech, financial stocks drag

Despite opening with a positive gap of 108 points at 14,432, the Sensex soon slipped into the negative zone on account of weakness in technology stocks.

Selling has now spread to other sectors. Finanicals stocks in particular have logged significnat losses and so have the realy estate and telecom stocks. The Sensex is now down 248 points at 14,076.

Infosys has slumped 6% to Rs 1,645. Satyam has plunged 4% to Rs 404. TCS has tumbled 3% to Rs 812, and Wipro has shed 2.3% at Rs 417.

HDFC has dropped over 3% to Rs 2,195. ICICI Bank and SBI have slipped over 2% each to Rs 670 and Rs 1,504, respectively. HDFC Bank is down 1.5% at Rs 1,233.

Reliance Infrastructure has shed 2.5% at Rs 968. DLF has declined 2.3% to Rs 474, and Jaiprakash Associates is down over 1% to Rs 159.

Reliance and Bhart Airtel have slipped 2% each to Rs 1,958 and Rs 760, respectively.

Grasim and Reliance Communications are down nearly 2% each to Rs 1,983 and Rs 392, respectively.

Maruti has rallied 2.5% to Rs 696. ITC has gained 1.4% at Rs 194.

Hindalco and BHEL have advanced over 1% each to Rs 124 and Rs 1,682, respectively.