Sensex up 38 pts; ITC, Bajaj firm

The Sensex, which dipped to a low of 7,748 on selective selling pressure, has bounced back into positive territory and is now up 38 points at 7,794. The Nifty, too, has rebounded from its mid-morning slump, and is now up nine points at 2,363.

ITC has flared up 2.57% (Rs 43) to Rs 1,712, while ONGC is still up a per cent (Rs 9) at Rs 966. Reliance and HLL, however, are down a per cent each at Rs 734 and Rs 170, respectively.

Satyam has shot up 3.23% (Rs 17) to Rs 542. While Infosys has advanced 1.48% (Rs 34) to Rs 2,334, Wipro is trading a per cent higher (Rs 7) at Rs 732. TCS, however, is weak at Rs 1,288 - down Rs 3.

HDFC Bank has gained 1.41% (Rs 9) to Rs 678. SBI and ICICI Bank are also trading in the green at Rs 811 and Rs 522, respectively.

Bajaj has vaulted 3.55% (Rs 52) to Rs 1,519. While Tata Motors has dropped 2.66% (Rs 14) to Rs 513, Hero Honda is down a per cent (Rs 3) at Rs 626.

Tech stocks have firmed up on strong buying support. i-flex, on news of acquisiton by Oracle, has flared up 8.48% (Rs 76) to Rs 972. While Polaris has surged 4.98% (Rs 7) to Rs 145, Geometric is up 3.42% at Rs 124.

Print & Media stocks, however, have shed ground. Deccan Chronicle has dropped 3.28% (Rs 9) to Rs 273. While TV Today has lost 1.52% to Rs 110, NDTV is down a per cent at Rs 235. Navneet Publications and TV18 are also trading at lower levels.