Sensex up 59 pts, oil stocks scale up

The Sensex, after touching a high of 6,676 in mid-noon trades, is now up 59 points at 6,662. While pharma stocks have slipped into the red and buying remains steady in heavyweights and tech stocks, steep gain still prevails in auto, power and other old economy stocks.

Reliance (up Rs 6 or 1.16% to Rs 540) is holding on to its gains. ITC and HLL are still marginally up at Rs 2,111 and Rs 144, respectively.

Reliance Energy has shot up 5.45% (Rs 29) to Rs 553. While BHEL has notched up 2.87% gains (Rs 22) to Rs 792, Tata Power is up 1.50% (Rs 6) at Rs 396.

Bharti (up 4% or Rs 9 to Rs 224) continues to rally on the back of strong buying support. Hindalco has pared gains on profit-taking to Rs 1,440 - up Rs 13. L&T, however, has scaled down 1.22% (Rs 12) to Rs 970.

Hero Honda has jumped 3.71% (Rs 21) to Rs 592. While Tata Motors has gained 2.56% (Rs 13) to Rs 518, Maruti is up 1.51% (Rs 7) at Rs 468.

ONGC is up 1.15% (Rs 9) at Rs 829.

Infosys has inched up a per cent (Rs 22) to Rs 2,111. While Wipro is up Rs 3 at Rs 751, Satyam is still flat at Rs 410.

Dr. Reddy's and Cipla are trading marginally lower at Rs 863 and Rs 317. Ranbaxy also is trading at weaker levels at Rs 1,247 - down Rs 4.

Oil stocks have reported strong gains with BSE Oil&Gas index up 1.80% (up 57 pts) at 3,204. Petronet LNG has flared up 18.18% (Rs 6) to Rs 37, and Indraprasth has surged 13.94% (Rs 13) to Rs 104. While Gail has added 5.33% to Rs 243, Gujarat Gas has gained 3.75% to Rs 605. Kochi Refineries and MRPL are up 2% each at Rs 231 and Rs 55, respectively.

Auto stocks also have attracted buying support. Munjal Showa has surged 6.90% (Rs 15) to Rs 235, and LML has jumped 6.30% to Rs 51. While MRF has advanced 5% (Rs 121) to Rs 2,541, Kalyani Brakes has added 3.34% to Rs 540. Rane Brake is up nearly 3% at Rs 185.