Sensex down 25 pts, capital goods stocks spurt

Range-bound trend with a negative bias is still witnessed in mid-noon trades as heavyweights, banking and pharma counters continue to trade at their early lows.

The Sensex, as a result, is now down 25 points at 7,279, while the Nifty is down 13 points at 2,208.

The breadth of the market continues to remain firm. While 1,502 scrips have advanced, 960 declined and 70 have remained unchanged.

ONGC and Reliance are down a per cent each at Rs 931 (down Rs 10) and Rs 634 (down Rs 5), respectively. ITC (down Rs 8 to Rs 1,736), too, is trading at lower levels.

HDFC Bank has tumbled 2.14% (Rs 14) to Rs 643. While ICICI Bank is down a per cent (Rs 4) at Rs 463, SBI is trading on a strong note at Rs 732 - up Rs 14 or 1.97%.

Satyam has edged lower by 1.88% (Rs 9) to Rs 487, while TCS has slipped a per cent (Rs 9) to Rs 1,276. Wipro, however, is trading with gains at Rs 711 - up Rs 10 or 1.45%.

Ranbaxy has shed 2% (Rs 21) to Rs 1,031. Other pharma counters, too, are displaying weak trends.

ACC is still holding on to its gains at Rs 430 - up Rs 9 or 1.90%. Grasim and Gujarat Ambuja are trading lower at Rs 1,086 and Rs 62, respectively.

Hero Honda, in a lacklustre market, has jumped 2.44% (Rs 15) to Rs 622. Tata Motors is down a per cent (Rs 5) at Rs 462.

Tata Power has advanced 2% (Rs 8) to Rs 403.

VSNL (up Rs 25 or 7.49% to Rs 354) is unchanged from its previous gains.

Capital goods stocks have flared up. Graphite Industries has shot up 15.40% to Rs 243, and HMT has soared 10.53% to Rs 56. While Nelco, too, has moved up 10.53% to Rs 45, Greaves Cotton has added 7.67% to Rs 163. ESAB, BEML, Havell, BEL and Dredging Corporation are up in a range of 2-5%.