Sensex above 7,800, PSU stocks in action

A sharp bout of frenzied buying in most of the counters has seen the index shrug off its nervous sentiment and breach the 7,800 levels. The Sensex, which soared to a high of 7,821, is now up 81 points at 7,811.

HLL has scaled up 3.55% (Rs 6) to Rs 167. While ITC is still lacklustre at Rs 1,732 (down Rs 5), Reliance is trading a tad lower at Rs 718.

ICICI Bank has notched up 3.68% gains (Rs 18) to Rs 511, while SBI has advanced 1.61% (Rs 13) to Rs 821.

Ranbaxy has surged nearly 4% (Rs 20) to Rs 520. Dr. Reddy's has moved up 2.53% (Rs 20) to Rs 830, and Cipla is up 1.89% (Rs 6) at Rs 328.

Tata Motors has logged 3.54% gains (Rs 17) to Rs 498. While Hero Honda has gained 2.36% (Rs 15) to Rs 641, Maruti is up 1.21% (Rs 6) at Rs 485.

Grasim has soared 3.76% (Rs 49) to Rs 1,345, while cement majors are trading with steady gains.

HDFC has jumped 2.67% (Rs 24) to Rs 934, and Tisco has added 1.71% (Rs 7) to Rs 405.

TCS (up Rs 5 to Rs 1,318), Wipro (up Rs 4 to Rs 731) and Satyam (up Rs 4 to Rs 528) are holding on their earlier gains. Infosys (down Rs 17 to Rs 2,298), however, is still exhibiting weak trends.

PSU stocks have perked up on strong buying support. HMT has zoomed nearly 26% (Rs 18) to Rs 88, and NFL has advanced 8.47% (Rs 3) to Rs 44. ITI, RCF, Canara Bank, MTNL, EIL, Balmer Lawrie and Uco Bank have added 2-6% gains.