Market battered

The market continues to dip as relentless selling pressure across sectors and heavyweights have wiped out over 150 points from the Sensex. The weakness in IT, banking and tech stocks has dragged the index to an intra-day low of 13589. Currently, the Sensex is down 176 points at 13598 and the Nifty has declined 48 points at 3921.

Among the techs Megasoft has dropped 5.36% at Rs103, Infotech Enterprises has shed 3.76% at Rs297, GTL has lost 3.49% at Rs123, Mascon Global has slipped 3.31% at Rs8, Geometric Software has lost 3.20% at Rs115 and Hexaware Tech is weaker by 3.07% at Rs180.

On the other hand I-gate Global has notched up gains of 5.43%, GMDC has surged 4.86% and Ramco System has advanced 3.91%. HCL Infosys, Syngenta, Punj Lloyd and Sun Pharmaceuticals are also trading in positive territory.

Of the 2,551 shares traded on the BSE, 1,505 shares have declined, while 974 shares have advanced.