Sensex up 32 pts, RIL scales up

The market is steadily gaining momentum after a weak opening and subsequent rise from lower levels. While buying still remains stock specific, weakness is still persistant in select tech, auto, pharma and other old economy counters.

The Sensex is now up 32 points at 6,446. The Nifty has added 11 points to 2,046.

Reliance is trading firm with a gain of 2.25% (Rs 11) at Rs 506. HLL is still trading with a rupee gain at Rs 144. ITC has inched marginally lower to Rs 1,303.

SBI has clocked a per cent gain (Rs 5) to Rs 599.

Hindalco has firmed up 2.47% (Rs 32) to Rs 1,332. Bharti has inched up 1.38% (Rs 3) to Rs 206.

While Reliance Energy has added 1.22% (Rs 6) to Rs 537, Tata Power is up a per cent (Rs 4) at Rs 380.

Infosys (down Rs 10 to Rs 2,073) and Wipro (down Rs 2 to Rs 754) are displaying a lacklustre trend. Satyam, however, is up a tad at Rs 408.

Several mid-cap stocks have logged gains on strong buying support. Bank of Rajasthan has vaulted 18.77% (Rs 11) to Rs 67 on reports of French bank Societe Generale likely picking up 14.5% stake in the bacnk.

Uco Bank has flared up nearly 12% (Rs 3) to Rs 28, and Essar Ship has soared 9.90% (Rs 3) to Rs 32. While UTI Bank has notched up 7.59% gains (Rs 13) to Rs 186, Balrampur Chini has shot up 7.23% (Rs 35) to Rs 525.

NIIT, BoI, MRF, CESC, Petronet LNG and Indus Ind Bank have advanced in a range of 4-6%.

Select counters, however, have eased on selling pressure. Pentamedia Graphics has dropped 3.56% to Rs 7. United Breweries and Thermax are down 3% each at Rs 440 and Rs 525, respectively. Swaraj Engineering, Silverline Tech, Oriental Hotel, Crisil and TV 18 are trading lower by 2% each.