Sensex bounces back; HLL, Reliance firm

The market, on the back of fresh buying in select heavyweights, auto and other old economy stocks, has recouped its early losses. Pharma, tech and banking stocks are still exhibiting weakness.

The Sensex has gained 18 points to 6,574. The Nifty, too, has recovered from the lower levels, and is up eight points at 2,066.

The market breadth, however, is still negative with 950 losers and 749 gainers on the BSE.

HLL continues to trade firm and has flared up 4.13% (Rs 7) to Rs 166.  Reliance has upped its gains by 2% (Rs 11) to Rs 543. ITC, however, is still trading at lower levels with a per cent loss (Rs 12) at Rs 1,350.

Bajaj has bounced back sharply and has advanced 2.62% (Rs 27) to Rs 1,065. While Hero Honda is up a per cent (Rs 3) at Rs 540, Maruti is marginally up at Rs 453. Tata Motors, however, is trading in the red at Rs 498 - down Rs 6.

BHEL has advanced 1.90% (Rs 14) to Rs 765, while Hindalco has added 1.11% (Rs 14) to Rs 1,315.

Infosys (up Rs 6 to Rs 2,073) is trading with steady gains. While Satyam is still witnessing weak trends at Rs 406 - down Rs 8 or 1.93%, Wipro is marginally down at Rs 704.

While SBI is down a per cent (Rs 6) at Rs 637, HDFC Bank has trimmed losses to Rs 559 - down Rs 5. ICICI Bank, however, is up a per cent (Rs 2) at Rs 363.

Pharma majors continue to exhibit weakness on the back of sustained selling pressure. Dr. Reddy's has lost 4.10% (Rs 30) to Rs 706. While Ranbaxy has slipped a per cent (Rs 11) to Rs 1,073, Cipla is down a rupee at Rs 286.

Select FMCG stocks have attracted buying support. Satnam Overseas has gained 5.32% (Rs 5) to Rs 101. While Bata has added 4.52% to Rs 92, Shaw Wallace is up 2.99% at Rs 141. William Tea, Dabur, Britania, Nirma and Radico Khaitan are up in a range of 1-2%.

Crompton Greaves has soared 8.16% (Rs 23) to Rs 301, and Indian Rayon has notched up 5.92% gains (Rs 24) to Rs 435. While Chambal Fertilisers has added 4.81% to Rs 30, Cummins is up 4.37% at Rs 133.