Sensex flares up by 40 points

The markets have extended their gains on the back of broadbased buying especially in the heavyweights.

The indices opened positively and is currently floating in a narrow range of 35 to 45 points. Although there are slight signs of volatility, FII figures have turned around which has helped boost the market sentiments.

The Sensex is currently trading 30 points higher at 6224, while the Nifty is up 15 points at 1948.

Heavyweights ITC is up 1.54% to Rs 1259, ICICI Bank up 0.58% to Rs 354, Reliance Industries is steady at Rs 513 and State Bank of India up 0.35% to Rs 592 also contributed to the gains of the Sensex. ITC rose by Rs 17 to 1258, while  Wipro added Rs 4 and is trading at Rs 348. 

Dr Reddy gained ground (up Rs 3) at 732,  ACC inched up further at Rs 376(up Rs 3), Cipla firmed up by 2% to Rs 269.

Ranbaxy is marginally down at Rs 1068 as investors await cautiously for it's Q3 results. Cipla and Gemotric Software will also be announcing their results today.VSNL plunged by 1.48% to Rs 217 after it announced disappointing quarterly results yesterday.

HDFC Bank stepped down by a per cent at Rs 513, while Tata Motors and Bajaj Auto continue to trade in the negative zone.