Sensex weak, Zee flares up

Weakness is still existing in heavyweights, select tech and other old economy stocks. Although buying has picked up, paricularly, in HLL, Zee and other selective counters, the Sensex is down nine points at 6,670, off an early low of 6,649. The Nifty is down a point at 2,114.

Reliance, with a volume of over 7.10 lakh, has dropped 1.51% (Rs 8) to Rs 535. While ITC has inched lower by Rs 5 to Rs 1,308, HLL has moved up nearly 2% (Rs 3) to Rs 147. The FMCG major has clocked a volume of over 2.34 lakh on the BSE so far.

Infosys is down a per cent (Rs 15) at Rs 2,102. While Wipro is down a rupee at Rs 752, Satyam (up Rs 4 to Rs 416) has upped its gains from its flat opening.

SBI has declined a per cent (Rs 6) to Rs 650, on a volume of over 3.19 lakh. Bharti, with a volume of over 34.66 lakh, is down a rupee at Rs 227 after reporting gains in early trades.

BHEL has shed 2.13% (Rs 17) to Rs 778. While Tata Power is down a per cent (Rs 3) at Rs 395, Reliance Energy is up a notch at Rs 562.

Zee, with a volume of over 6.67 lakh, has flared up 4.50% (Rs 8) to Rs 180 on strong buying support. HPCL is up 1.30% (Rs 5) at Rs 413.

Select counters have notched up significant gains. Man Industries has soared 10.46% (Rs 11) to Rs 113. While Himachal Futuristics has flared up 9.90% to Rs 22, Jindal Polymers has added 8.71% to Rs 442.

Tata Tele at Rs 36 (up Rs 3 or 8.32%), Sterlite Opticals at Rs 86 (up Rs 6 or 7.94%) and Cummins at Rs 133 (up Rs 9 or 7.63) also are trading with steep gains.

Select stocks, however, have come under profit-taking. West Coast Paper has shed 3.96% (down Rs 9) to Rs 218, and Unites Western Bank has lost 3.39% (Rs 2) to Rs 53. While Munjal Auto has declined 3% (Rs 3) to Rs 110, Hindustan Constructions is down 2.78% at Rsn 365. Tata Honeywell and Alstom are down nearly 3% each at Rs 575 and Rs 90, respectively.