Sensex off early highs, up 27 pts

The Sensex, after touching an early high of 6,494, has steadily pared gains on profit-taking in select old and new economy stocks. While select heavyweight, banking and cement majors are trading with steady gains, tech stocks have eased on selling pressure.

The Sensex is now up 27 points at 6,469. The Nifty is up six points at 2,051.

Reliance, with a volume of over 12.33 lakh on the BSE, has gained 1.74% (Rs 9) to Rs 514. While ITC is marginally up at Rs 1,297, HLL is down a tad at Rs 145 after a steady positive opening.

SBI is up a per cent (Rs 3) at Rs 612, with over 3.17 lakh shares traded on the BSE. While ICICI Bank, on a volume of over 2.45 lakh, has jumped 3.38% (Rs 12) to Rs 376, HDFC Bank has added 1.48% (Rs 7) to Rs 500.

HPCL has moved up 2% (Rs 8) to Rs 382, and Tisco, on a volume of over 4.82 lakh, has logged 1.78% gains (Rs 6) to Rs 352.

ACC is up a per cent (Rs 2) at Rs 319. Grasim at Rs 1,289 (up Rs 6) and Gujarat Ambuja at Rs 395 (up Rs 2) are also trading with steady gains.

Infosys, on a volume of over 1.31 lakh, has lost 1.27% (Rs 26) to Rs 2,040. While Satyam has slipped a per cent (Rs 4) to Rs 399, Wipro is down Rs 2 at Rs 746.

Bank stocks continue to sizzle on the back of strong buying support. Syndicate Bank has soared 7.29% (Rs 4) to Rs 63. While Indus Ind Bank has mopped up 6.50% (Rs 4) gains to Rs 62, Dena Bank has added 4.97% to Rs 38. IDBI Bank is up 4.68% at Rs 61, and Vijaya Bank has logged 2.43% gains to Rs 70.

Select counters have incurred losses on selling pressure. MRF has dropped 4.23% (Rs 114) to Rs 2,591. While UTI Bank has shed 3.80% (Rs 7) to Rs 182, KPIT Cummins has slipped 3.76% (Rs 22) to Rs 570. Union Bank and Satnam Overseas are down 2% each at Rs 110 and Rs 99, respectively.