The Sensex on Tuesday opened 25 points higher at 5,596, and soon crossed the 5,600-mark to touch an intra-day high of 5,608. While buying remained steady in select old economy stocks, the index displayed a range-bound trend till early noon deals.

The markets, however, eased in mid-afternoon trades and remained weak thereafter, as stocks slipped from higher levels after early gains. Selling intensified towards the closing hours as a steep fall in tech, PSU, heavyweight, cement and other select old economy stocks saw the index crash to an intra-day low of 5,510.

The Sensex finally dropped 51 points to end the day at 5,520.

The Nifty slipped from a high of 1,775 to close at 1,750 -- down 12 points.

Infosys dropped 3.42% (Rs 178) to close at Rs 5,038. While Satyam slumped 4% (Rs 13) to Rs 301, Wipro shed 2.40% (Rs 34) to Rs 1,377.

ITC lost 1.62% (Rs 17) to close at Rs 1,050. Reliance eased towards the closing hours, and ended a rupee lower at Rs 527. HLL, however, closed up a rupee at Rs 150.

SBI dropped 2.57% (Rs 16) to Rs 593. While BHEL ended flat at Rs 593, MTNL was down a rupee at Rs 124. HPCL gained Rs 3 to finish at Rs 491.

Hindalco closed 2.19% lower (Rs 27) at Rs 1,204. While HDFC Bank lost 2.10% (Rs 8) to Rs 369, Tata Power dipped 3.63% (Rs 14) to Rs 373. ONGC shed Rs 5 to close at Rs 840.

Grasim (down 15 or 1.39% to Rs 1,034), Gujarat Ambuja (down Rs 13 or 4.20% to Rs 287) and ACC (down Rs 5 or 1.88% to Rs 250) ended with losses. L&T, however, ended with a modest gain of Rs 2 at Rs 557.

Bajaj and Tata Motors were down a per cent each at Rs 883 (down Rs 10) and Rs 469 (down Rs 4), respectively. Hero Honda closed down a tad at Rs 478.

Cipla (down Rs 5 to Rs 1,140) and Dr. Reddy's (down Rs 6 to Rs 972) ended with marginal losses. Ranbaxy, however, moved up 1.13% (Rs 10) to Rs 932.

Bharti advanced 4.80% (Rs 7) to finish at Rs 153. Zee also ended firm with a gain of 3.71% (Rs 5) at Rs 134.