Sensex down 50pts in early trades

After yesterday's over 700 points rally, the Sensex today opened on a quiet note, up 25 points at 12,160. The index then slipped into red and touched a low of 12,063.

The index is now down 51 points at 12,083.

Tata Steel has surged 4.5% to Rs 275. ICICI Bank and Ranbaxy have gained 3% each at Rs 545 and Rs 176, respectively.

Reliance Communications has advanced 2.5% to Rs235. Larsen & Toubro, ACC, DLF and Tata Motors have also gone up.

On the other hand, Mahindra & Mahindra and HDFC have slumped 2.5% each to Rs 535 and Rs1,907, respectively.

Wipro and Infosys have shed 2% each at Rs 358 and Rs 1,601, respectively. HDFC Bank, TCS and Sun Pharma have declined 1.5% each.

ITC, Tata Power, Reliance, ONGC and SBI have also dropped.