Sensex steady, SBI trading firm

Cautious optimism is prevailing in the market as gains in the market remains stock-specific. The Sensex, in early noon trades, is now up 10 points at 6,563 on selective buying in tech, banking and other select old economy stocks. The Nifty is up a point at 2,061.

The market breadth is still positive with 1,002 advances and 683 declines, while 62 stocks have remained unchanged.

SBI, with a traded volume of over 10.95 lakh, is trading firm with a gain of 2.57% (Rs 16) at Rs 650. While ICICI Bank is up 1.15% (Rs 4) at Rs 366, HDFC Bank, however, has inched lower by 1.17% (Rs 7) to Rs 555.

ONGC has inched up by Rs 3 to Rs 824. While Tata Power has moved up 3.47% (Rs 13) to Rs 392, Tisco is up a per cent (Rs 4) at Rs 386.

Infosys at Rs 2,087 (up Rs 24 or 1.14%) is holding on to its gains. While Satyam is up a rupee at Rs 409, Wipro has slipped into the red to Rs 690 - down Rs 5.

Hindalco, on strong buying support, has flared up 2.67% (Rs 36) to Rs 1,367. BHEL (up Rs 16 or 2.12% to Rs 773) is trading with steady gains.

HLL has dropped 2.87% (Rs 5) to Rs 164, after attracting considerable buying support in the last few sessions. While Reliance, on a volume of over 10.24 lakh, is trading weaker by Rs 3 at Rs 540, ITC, on the government orders to pay hefty excise bill, is still languishing in negative territory at Rs 1,338 - down Rs 12.

Grasim has clocked a per cent gain (Rs 12) to Rs 1,332, and Gujarat Ambuja is up a rupee at Rs 449.

Bharti has shed 1.89% (Rs 4) to Rs 218, with a traded volume of over 6.98 crore. HDFC is trading lower by 1.49% (Rs 12) at Rs 764.

Auto and pharma pivotals are displaying mixed trend.

Metal stocks have firmed up on strong buying support. Mukand Iron & Steel has flared up 7.26% (Rs 4) to Rs 60, and Ispat has jumped 4.43% to Rs 25. Sesa Goa and PSL have moved up nearly 4% each at Rs 1,397 and Rs 129, respectively. While Hind Zinc has added 2.75% to Rs 162, Maharashtra Seamless is up 2.53% at Rs 312.

Rallies India has shot up 10% (Rs 21) to Rs 237, and Amforge Industries has gained 9.98% to Rs 134. JK Corp and Mid-Day have surged nearly 10% each to Rs 45 and Rs 82, respectively. While Dhampur Sugar Mills has advanced 9.38% to Rs 156, ITI has spurted 7.84% to Rs 27.

Alstom, however, has crashed 17% (Rs 16) to Rs 76 due to relentless selling pressure. Indian Rayon and Ultratech Cement have lost 3% each to Rs 425 and Rs 350, respectively.

Bharti is leading the value chart with a turnover of Rs 151 crore, followed by SBI (Rs 71 crore), Reliance (Rs 55 crore), Infosys (Rs 30 crore) and Tisco (Rs 26 crore), respectively.