Sensex up 37 pts, Reliance eases

Correction in the Reliance counter has seen the index erase some of its gains in the mid-noon trades. The Sensex is now up 37 points at 6,535. The Nifty also has come off its highs, and is up two points at 2,065.

While ITC is up a per cent (Rs 12) at Rs 1,311, HLL is trading with marginal gains at Rs 145. Reliance is down a tad at Rs 532 after reporting strong gains in early noon trades.

SBI has inched up by 1.15% (Rs 7) to Rs 616. Other banking stocks are trading with steady gains.

ACC has moved up 1.54% (Rs 5) to Rs 326. While Grasim has gained 1.27% (Rs 16) to Rs 1,300, Gujarat Ambuja is up 1.61% (Rs 6) at Rs 398.

Ranbaxy is trading with a per cent gain (Rs 11) at Rs 1,249. Dr. Reddy's and Cipla are trading with steady gains at Rs 858 and Rs 308, respectively.

Tisco has logged 3.26% gains (Rs 12) to Rs 371. HPCL has gained nearly 2% (Rs 6) to Rs 391, and L&T has clocked a per cent gain (Rs 10) to Rs 985. ONGC, however, is down a per cent (Rs 6) at Rs 851.

Select pharma stocks have firmed up strong buying support. Morpen Labs has notched up 9.46% to Rs 11. While Dishman Pharma has surged 7.87% (Rs 46) to Rs 625, Dabur Pharma has gained 5.72% (Rs 3) to Rs 61. Aventis Pharma (up Rs 61 or 4.65% to Rs 1,371), Merck (up Rs 19 or 3.45% to Rs 574), JB Chem Pharam (up Rs 10 or 2.14% to Rs 477) and Pfizer (up Rs 12 or 1.80% to Rs 703) also have mopped up significant gains.

Mirc Electronics has shot up 16.34% (Rs 4) to Rs 26. Dena Bank has advanced 12.34% (Rs 4) to Rs 40 on reports of its merging with BoB. While Adani Exports has gained nearly 5% (Rs 4) to Rs 79, Ispat is up 4.94% at Rs 21.

Reliance is leading the volume chart with over 58.67 lakh shares traded on the BSE, followed by Tisco (16.45 lakh), ACC (5.17 lakh) and SBI (5 lakh), respectively.

Ramco Industries at Rs 640 (up 4.15%), Navbharat Ferous at Rs 363 (up 2.31%), Pentamedia Graphics at Rs 8 (up 2.82%) have hit the upper circuit breaker.