Heavyweights lead rally, Sensex up 17pts

The market has shrugged off its negative range-bound trend in mid-noon trades as strong buying has emerged in heavyweights, and select banking, auto and other old economy counters.

The Sensex, as a result, has advanced 17 points to 6,357. The Nifty, too, has drifted into positive territory with a gain of three points at 1,960.

Reliance, following its impressive earnings figures, has spurted 1.84% (Rs 10) to Rs 557. While HLL has surged 3.59% (Rs 5) to Rs 143, ITC has shot up 2.62% (Rs 36) to Rs 1,416.

SBI is up a per cent (Rs 5) at Rs 629, while HDFC Bank is up Rs 2 at Rs 540. ICICI Bank, however, continues to reel under selling pressure with a loss of 3.37% (Rs 14) at Rs 390.

Cipla has flared up 5% (Rs 12) to Rs 256, and Ranbaxy is up Rs 4 at Rs 919. Dr. Reddy's, however, is down a per cent (Rs 4) at Rs 662.

Bajaj is still trading a per cent higher (Rs 10) at Rs 1,093. While Tata Motors has moved up 1.17% (Rs 5) to Rs 439, Hero Honda is up a per cent (Rs 3) at Rs 509. Maruti, however, is down a per cent (Rs 4) at Rs 427.

HDFC has added 1.79% (Rs 13) to Rs 735, and Tata Power is up 1.46% (Rs 5) at Rs 358.

ONGC has trimmed its losses to Rs 845 - down Rs 3. Infosys has lost 1.39% (Rs 27) to Rs 1,932. While Satyam is down Rs 2 at Rs 413, Wipro, however, has rolled back into the green to Rs 645 - up Rs 3.