Sensex pares gains, banking stocks ease

While heavyweights are holding on to their gains, weakness due to profit-taking in banking, tech and other select old economy counters have minimised the gains of the index towards the closing hours of the trading session.

The Sensex, as a result, is now up 49 points at 7,125. The Nifty, too, has come off its early highs, and is now up at 2,183 - up 13 points.

Reliance has advanced 1.56% (Rs 10) to Rs 656. While ONGC is up 1.70% (Rs 16) at Rs 961, ITC is trading 1.58% higher (Rs 24) at Rs 1,570. Reliance Energy, however, has slipped a per cent (Rs 6) to Rs 649.

TCS is unchanged on a firm note at Rs 1,328 - up Rs 24 or 1.85%. Other tech majors have erased most of their gains and are largely flat.

HDFC Bank has edged lower by a per cent (Rs 6) to Rs 595. SBI, too, is trading lower by a per cent (Rs 7) at Rs 659.

Maruti at Rs 464 (up Rs 10 or 2.26%), Bajaj at Rs 1,272 (up Rs 24 or 1.91%) and Tata Motors (up Rs 6 to Rs 424) are up with steady gains. Hero Honda has trimmed gains to Rs 555 - up Rs 5.

L&T has shot up 3.22% (Rs 35) to Rs 1,136, and HDFC has gained 2.80% (Rs 24) to Rs 867. While BHEL has shed 1.45% (Rs 13) to Rs 853, Hindalco has lost 1.19% (Rs 14) to Rs 1,178.