Sensex surges; RIL, pharma stocks shine

The market has peaked up in early noon deals following fresh buying in heavyweights, pharma and other select old economy stocks.

The Sensex, which displayed a range-bound trend in mid-morning trades after a solid start, sneaked past the 6,600-mark to touch a current high of 6,601. It has now advanced 58 points to 6,581. The Nifty also has upped its gains by 16 points to 2,076.

Reliance, with a volume of over 7.85 lakh, has inched up by 1.52% (Rs 8) to Rs 531. While ITC is up a per cent (Rs 9) at Rs 1,305, HLL is trading on a flat note at Rs 144.

Infosys is still trading with a per cent gain (Rs 16) at Rs 2,065, on volumes of over 1.19 lakh. Satyam (up Rs 6 to Rs 410) is holding on to its gains, and Wipro is up a rupee at Rs 747.

Dr. Reddy's has moved up 2.18% (Rs 19) to Rs 868. While Cipla has advanced 2.15% (Rs 7) to Rs 318, Ranbaxy logged 1.32% gains (Rs 16) to Rs 1,248.

While SBI, with a volume of over 5.35 lakh, is up 1.22% (Rs 8) at Rs 641, ICICI Bank has gained 2.30% (Rs 8) to Rs 372. HDFC Bank (down Rs 2 to Rs 519) is witnessing weak trends.

Bharti is up 1.56% (Rs 3) at Rs 215.

Select pharma stocks have firmed up on renewed buying support. Orchid Chemicals has spurted 11.87% (Rs 31) to Rs 295, and Glenmark Pharma has notched up 9.11% gains (Rs 40) to Rs 480. While Allembic has soared 6.68% (Rs 17) to Rs 272, JB Chemicals has advanced 6.22% (Rs 29) to Rs 493. Natco Pharma and Dabur Pharma have moved up slightly over 5% each to Rs 141 and Rs 63, respectively. Wyeth, Sterlite Biotech, FDC and Unichem Lab are up in a range of 3-4%.

Stocks of consumer goods also have logged gains. HMT has flared up 5.82% (Rs 3) to Rs 48, while Astra Micro has clocked 5% gains (Rs 26) to Rs 537. While Nelco has added 4.89% (Rs 3) to Rs 55, Gammon and Havell are up 4% each to Rs 764 and Rs 251, respectively. Crompton Greaves, Alstom, BEL have gained 2% each to Rs 296, Rs 92 and Rs 658, respectively.