Sensex up 35 pts, RIL gains ground

The Sensex, which pared gains shortwhile ago, has bounced back on strong gains in Reliance and other select old economy stocks. It is now up 35 points at 6,381. The Nifty has moved up seven points to 2,019.

Reliance, after a weak opening session, has gained 1.50% (Rs 7) to Rs 487. The counter has clocked a volume of over 49.9 lakh on the BSE so far. ITC is up a per cent (Rs 7) at Rs 1,262. HLL, however, is still trading with marginal losses at Rs 147.

Infosys has added 1.11% (Rs 23) to Rs 2,113. While Wipro has gained a per cent (Rs 7) to Rs 764, Satyam is up a rupee at Rs 417.

HDFC Bank is trading firm with a gain of 2% (Rs 10) at Rs 491. While ICICI Bank is up a per cent (Rs 3) at Rs 363, SBI is trading with a modest gain of Rs 2 at Rs 585.

L&T has advanced 3.80% (Rs 36) to Rs 973. Zee, with a volume of over 8.27 lakh, has logged 2.59% gains (Rs 4) to Rs 178.

Reliance Energy has added 1.41% (Rs 7) to Rs 524. BHEL and Tata Power are up a per cent each at Rs 720 (up Rs 5) and Rs 373 (up Rs 3), respectively.

Bharti, on a volume of over 4.73 lakh, has slipped a per cent (Rs 2) to Rs 197, and HPCL has lost 1.33% (Rs 5) to Rs 368.

Select pharma stocks have firmed up on strong buying support, and the BSE HC index is up 1.43% at 3,003.

Morpen Lab has zoomed nearly 17% to Rs 10. While Neuland Lab has spurted 12.72% (up Rs 30) to Rs 266, J B Chem Pharma has vaulted 11.14% (Rs 44) to Rs 437. Merck has surged 6.27% (Rs 33) to Rs 554, and Matrix Lab has shot up 5.95% (Rs 127) to Rs 2,270. Cadila, Divi's Lab, Pfizer, Abbott and Elder Pharma are up in a range of 3-5%.

The BSE Metal index is up a per cent at 5,569. Sesa Goa has soared 7.72% (Rs 73) to Rs 1,014. While Maharashtra Seamless has surged nearly 7% (Rs 21) to Rs 330, Mukand Iron & Steel has jumped 5.43% to Rs 46. Hind Zinc has gained 1.93% to Rs 127, and Essar Steel is up 1.77% at Rs 37.

Reliance is leading the value chart with a turnover of Rs 239 crore, followed by SBI (Rs 19 crore), L&T (Rs 16 crore) and Satyam (Rs 15 crore), respectively.