Sensex up 38 pts, metal stocks surge

While buying has firmed up in metal stocks, the index heavyweights are more or less trading at their earlier highs.

The Sensex is now up up 38 points at 6,551. The Nifty has added 10 points to 2,073.

Reliance, with a volume of over 22.6 lakh, has scaled up 1.75% (Rs 9) to Rs 526. While ITC has moved up a per cent (Rs 11) to Rs 1,320, HLL is still down a rupee at Rs 144.

HPCL has jumped 3.44% (Rs 13) to Rs 401, and Tisco, on a volume of over 41.34 lakh, has surged 4.53% (Rs 17) to Rs 391. ONGC, however, has shed more ground on selling pressure to Rs 826 - down Rs 21 or 2.52%.

SBI has logged 1.39% gains (Rs 9) to Rs 622. While HDFC Bank has gained 1.79% (Rs 9) to Rs 513, ICICI Bank is down a per cent (Rs 3) at Rs 371.

Hindalco has advanced 1.75% (Rs 23) to Rs 1,345. Bharti (up Rs 4 or 2% to Rs 213) and BHEL (up Rs 13 or 1.81% to Rs 750) are also trading at higher levels.

Metal stocks have attracted considerable buying with the BSE Metal index currently up 3.72% (up 222 pts) at 6,182.

Ispat, with a volume of over 1.78 crore on the BSE, has soared 14.25% (Rs 3) to Rs 24. While Essar Steel has shot up 9.91% to Rs 43, Uttam Galvanised has spurted 8/71% to Rs 42. Lloyd Steel at Rs 15 (up 7.12%), Jindal Vijaynagar Steel at Rs 18 (up 6.63%), Jindal Steel at Rs 932 (up 5.12%), Mukand Iron at Rs 48 (up 5%) and Jisco at Rs 343 (up 4.75%) have also notched up significant gains.

While Nicholas Piramal has flared up nearly 9% (Rs 26) to Rs 318, HMT has gained 7% to Rs 46. Sterlite Optical at Rs 78 (up Rs 5 or 6.56%), CESC at Rs 168 (up Rs 8 or 5.33%) and Escorts at Rs 73 (up Rs 3 or 4.59%) are also exhibiting firm trend.