Sensex steady, ONGC holds firm

After reporting strong gains in the opening bell, the market has steadied in mid-morning trades. Profit-taking and weakness in select old economy stocks has trimmed the gains of the index.

The Sensex, as a result, has slipped below the 6,600 mark to 6,598 - up 24 points, while the Nifty is still at its opening levels of 2,070 - up 15 points.

Out of 2,089 stocks traded on the BSE so far, 1,168 have advanced, 845 declined and 76 have remained unchanged.

ONGC, with a volume of over 4.62 lakh, has surged 3.24% (Rs 26) to Rs 843.

Infosys is unchanged with a per cent gain (Rs 15) at Rs 2,177. While Satyam has gained 1.67% (Rs 7) to Rs 404, Wipro is up a notch at Rs 678.

Reliance is up a notch at Rs 547. While ITC is trading a per cent lower (Rs 9) at Rs 1,288, HLL is down a rupee at Rs 142.

Grasim and ACC are still up a per cent each at Rs 1,339 (up Rs 12) and Rs 362 (up Rs 2), respectively. Gujarat Ambuja has added 1.23% (Rs 5) to Rs 434.

Hindalco has added 1.31% (Rs 18) to Rs 1,393, and Bharti has gained 1.87% (Rs 4) to Rs 217. L&T has clocked a per cent gain (Rs 8) to Rs 1,066.

HDFC Bank has lost 1.25% (Rs 7) to Rs 569, while SBI is down a per cent (Rs 4) at Rs 687. ICICI Bank, however, is up a per cent (Rs 3) at Rs 373.

Auto and pharma counters are trading at mixed levels.

Bombay Dyeing has soared 6.16% (Rs 15) to Rs 263. While Jaiprakash Associates has added 2.83% to Rs 205, Arvind Mills has gained 2.44% to Rs 124. Century Textiles and Alok Industries are up 2% each at Rs 220 and Rs 67, respectively.

Gail India, with a volume of over 6.24 lakh, has spurted 5.38% (Rs 13) to Rs 247. VSNL, Apollo Tyre, Alstom Project, IBP, IOC and Ispat are up between 3-4%.