Tech, oil stocks gain ground

The overall market sentiment remains optimistic, although profit-taking in select counters have trimmed the gains of the index in early noon trades. The Sensex is now up 45 pts at 7,714.

Reliance and Reliance Energy are up over a per cent gain each at Rs 718 and Rs 638, respectively. HLL, however, has shed 1.47% (Rs 3) to Rs 171.

SBI has trimmed gains to Rs 801 (up Rs 13), while ICICI Bank is still subdued with a per cent loss (Rs 4) at Rs 529.

TCS is still up 2.21% (Rs 28) at Rs 1,280. Satyam has pared gains to Rs 522 - up Rs 7 or 1.36%.

BHEL (up Rs 23 or 2.34% to Rs 1,016), Tisco (up Rs 13 or 3.48% to Rs 377) and Tata Power (up Rs 10 or 2.57% to Rs 414) have edged higher.

Tata Motors is up nearly 4% (Rs 20) at Rs 521, while Maruti has advanced 2.18% (Rs 11) to Rs 504. Hero Honda is up a per cent (Rs 5) at Rs 634.

Tech stocks have attracted buying support. i-flex has jumped 7.37% (Rs 61) to Rs 889. While SSI has moved up 5.74% (Rs 3) to Rs 50, HCL Tech has gained 5.56% (Rs 22) to Rs 423. Atech, KPIT Cummins, Patni Computers, Hinduja TMT and HCL Infosys are up in a range of 2-5%.

Oil & Gas stocks, too, have rallied sharply. Kochi Refineries has advanced 6.92% (Rs 11) to Rs 163. Gail has surged 6.57% (Rs 15) to Rs 239, MRPL is up 4.80% (Rs 2) at Rs 53. Chennai Petro, HPCL, HOEL, IOC, Aban Loyd, Petronet LNG and Bongaigaon Refinery have added 2-4% gains.