The market has shrugged off its bearish trend following sharp gains in most of the old and new economy stocks. After languishing in negative territory till early noon trades, the index has bounced back into the green to touch a high of 6,160. It is now up 47 points at 6,153. The Nifty also has staged a smart recovery on all-round buying, and is now up 20 points at 1,929.Heavyweights, tech, banking and auto pivotals are exhibiting smart gains in late noon trades.ITC has moved up a per cent (Rs 13) to Rs 1,357, and HLL is up a per cent at Rs 149. Reliance, however, with volumes of over 55.2 lakh, is still trading at weaker levels at Rs 504 - down Rs 2.Infosys has recovered from its lows with a per cent gain (Rs 14) to Rs 1,918. While Satyam has logged 2.10% gains (Rs 8) to Rs 381, Wipro is up 1.18% (Rs 8) at Rs 655 after early weakness.SBI has upped its gains by 1.46% (Rs 8) to Rs 579. While HDFC Bank has soared 5% (Rs 25) to Rs 514, ICICI Bank is up a rupee at Rs 339.HPCL has added 2.85% (Rs 9) to Rs 337. While ONGC is trading with a steady gain of Rs 4 at Rs 783, Tisco, on volumes of over 17.28 lakh, is up 1.75% (Rs 6) at Rs 367. Bharti has inched up by 2.27% (Rs 4) to Rs 203.Among auto majors, Hero Honda (up Rs 12 to Rs 526), Maruti (up Rs 10 to Rs 420) and Tata Motors (up Rs 12 to Rs 475) are trading in the limelight. Bajaj, however, continues to display weak trends, and is dealt at Rs 1,003 - down Rs 20 or 1.92%.Grasim has advanced 2.46% (Rs 31) to Rs 1,289. Other cement stocks are trading with marginal gains. Select stocks have attracted strong buying support. Mid-Day Multimedia has soared 9.98% (Rs 7) to Rs 73. While Hind Zinc has spurted 8% (Rs 12) to Rs 159, India Cement has jumped 7.38% to Rs 59. Ashok Leyland, Matrix Labs, SCI, Essar Steel and Glenmark Pharma have firmed up in a range of 5-7%.Everest Industries, however, has tanked nearly 13% (Rs 21) to Rs 144, and Forbes Gokak has crumbled 6.62% (Rs 18) to Rs 251. Astra Micro and Neuland Labs have slumped 5% each to Rs 665 and Rs 178, respectively.Reliance is leading the value chart with a turnover of Rs 276 crore, followed by Tisco (Rs 62 crore), Satyam (Rs 61 crore), ITC (Rs 56 crore) and Infosys (Rs 51 crore), respectively.
