The market has shrugged off its early downtrend scare as strong upsurge in select banking and heavyweight stocks propelled the index to a high of 7,350. The Sensex has advanced 36 points at 7,340, while the Nifty, too, has moved into positive territory at 2,240 - up 10 points.The market breadth is firm, with advances outpacing losers by 2.8:1 so far on the BSE. While 1,694 stocks have advanced, 602 have declined.ICICI Bank has scaled up 2.84% (Rs 12) to Rs 451, while SBI is up a per cent (Rs 6) at Rs 716. HDFC Bank, however, is down a per cent (Rs 4) at Rs 638.Bharti has advanced 2.92% (Rs 7) to Rs 261. ITC and L&T are up a per cent each at Rs 1,646 (up Rs 12) and Rs 1,261 (up Rs 13), respectively. Reliance and Reliance Energy are up with steady gains at Rs 681 and Rs 641, respectivley.Infosys and Satyam are flat at Rs 2,212 and Rs 512, respectively. TCS (down Rs 6 to Rs 1,285) and Wipro (down Rs 6 to Rs 705) are exhibiting a subdued trend.Hero Honda is up a per cent (Rs 5) at Rs 612. Other auto counters are largely displaying a flat trend.Capital goods stocks have logged strong gains. Usha Martin has shot up 6.75% (Rs 6) to Rs 98. Esab India, Astra Micro, Nelco, Dredging Corporation, Kirloskar Brothers, Graphite India, Honeywel Auto and Greaves Cotton are up in a range of 2-5%.
