Recovery continues; Sensex down 34 pts

The market is on a recovery mode as buying has emerged in SBI, Infosys, select auto and cement majors. The sentiment, however, still remains bearish as weakness is still seen in select heavyweights, select tech and other old economy stocks.

The Sensex is now down 34 points at 6,424.

ITC has shed 1.62% (Rs 21) to Rs 1,273, and HLL is trading weaker by Rs 2 at Rs 143. Reliance, however, has moved up a per cent (Rs 4) at Rs 534.

Infosys (up Rs 6 to Rs 2,058) has rebounded into the green on buying support at lower levels. While Satyam is subdued at Rs 384 (down Rs 6 or 1.49%), Wipro is down 1.87% (Rs 13) at Rs 693.

SBI has bounced back into the green, and is up 1.15% (Rs 7) at Rs 625. While HDFC Bank has lost nearly 2% (Rs 9) to Rs 489, ICICI Bank is down Rs 2 at Rs 359.

Hero Honda is up a per cent (Rs 5) at Rs 571, and Tata Motors is up Rs 2 at Rs 506. While Bajaj has dropped 2.10% (Rs 23) to Rs 1,065, Maruti is down Rs 2 at Rs 444.

ACC is up 1.23% (Rs 4) at Rs 353. While Gujarat Ambuja is up Rs 2 at Rs 428, Grasim is down a per cent (Rs 9) at Rs 1,294.

Bharti at Rs 215 (up Rs 5 or 2.33%) continues to trade at higher levels. While HPCL has clocked 1.41% gains (Rs 6) to Rs 398, Zee is up a rupee at Rs 171.