Banking stocks extend gains

The Sensex has scaled to a new intra-day peak of 7,558 following extended buying support in select old economy stocks. While banking scrips continue to rake up gains, select tech stocks, too, have shrugged off their subdued and moved into the green.

The Sensex, as a result, is now up 45 points at 7,550, while the Nifty is firm at 2,301 - up nine points.

ICICI Bank has spurted 3.68% (Rs 18) to Rs 508. SBI and HDFC Bank are unchanged with per cent gain each at Rs 748 (up Rs 5) and Rs 679 (up Rs 4), respectively.

Infosys at Rs 2,228 (up Rs 6) and Satyam (up Rs 2 to Rs 523) are trading with steady gains. TCS and Wipro are still down a per cent each at Rs 1,273 and Rs 706, respectively.

ITC has gained 2% (Rs 34) to Rs 1,700. ONGC has reverted into the green to Rs 965 - up Rs 3.

Dr. Reddy's has advanced 2.88% (Rs 22) to Rs 788, while Cipla has dipped 1.39% (Rs 5) to Rs 337.

Bajaj has inhced up its gains by 1.12% (Rs 16) to Rs 1,410. Hero Honda (up Rs 5 to Rs 610) and Maruti (up Rs 4 to Rs 468) have remained steady.

Bharti (up Rs 7 or 2.54% to Rs 274) is holding on to its gains. L&T has shed 1.11% (Rs 14) to Rs 1,228.

Banking scrips have edged higher. Corporation Bank has notched up 5.46% gains (Rs 24) to Rs 454, and Union Bank of India has advanced 5.15% (Rs 6) to Rs 127. While BOI has added 5% (Rs 6) to Rs 130, Andhra Bank is up 3.84% (Rs 4) at Rs 111. BoB, UTI Bank, PNB, IOB and OBC are up in a range of 1-3%.