Sensex recovers, up 16 pts

The market has recovered from the lower levels following extended buying support in cement, pharma and other select old economy stocks. Weakness is still noticable in select tech, banking and auto stocks. up The Sensex has added 16 points to 6,636, while the Nifty is down a point at 2,078.

ITC has moved up 1.10% (Rs 15) to Rs 1,344. While HLL is up a rupee at Rs 167, Reliance is still weak at Rs 537 - down Rs 4.

ACC has risen above the Holcim's open offer price, and has spurted 3.83% (Rs 14) to Rs 377. While Grasim is up a per cent (Rs 14) at Rs 1,360, Gujarat Ambuja is up Rs 2 at Rs 460.

Dr. Reddy's has gained 3.18% (Rs 23) to Rs 734. While Ranbaxy has climbed 1.93% (Rs 20) to Rs 1,080, Cipla is up a rupee at Rs 286.

HDFC has firmed up 2.81% (Rs 22) to Rs 810, while Hindalco has added 1.24% (Rs 17) to Rs 1,390. Tata Power (up Rs 7 to Rs 402) and Tisco (up Rs 2 to Rs 398) are trading with gains. L&T, however, is trading lower by a per cent (Rs 11) at Rs 979.

Wipro has moved up 1.61% (Rs 11) to Rs 705. Infosys (down Rs 15 to Rs 2,088) is still trading at subdued levels.

SBI is down a per cent (Rs 5) at Rs 651. Other banking stocks also are trading at lower levels.