Upward bias continues, Sensex soars 60 pts

The market, which rose steadily in the first half after a volatile opening, has notched up significant gains in mid-noon trades as steep rally continues in old and new economy stocks.

The Sensex, which surged to a high of 6,572, is now up 60 points at 6,553. The Nifty has advanced 19 points to 2,055.

Reliance has flared up 2.94% (Rs 16) to Rs 562. Satyam has jumped nearly 2% (Rs 8) to Rs 416.

SBI has logged 1.30% gains (Rs 9) to Rs 665. While ICICI Bank has gained 1.65% (Rs 6) to Rs 399, HDFC Bank is up a rupee at Rs 545.

HPCL has scaled up 4.18% (Rs 13) to Rs 319, while Tata Motors has firmed up 4.17% (Rs 17) to Rs 431.

Gujarat Ambuja has moved up 1.72% (Rs 7) to Rs 408, and Grasim is up a per cent (Rs 9) at Rs 1,223.

BHEL, on impressive earnings report, has jumped nearly 4% (Rs 30) to Rs 797. While Hindalco has advanced 2.28% (Rs 30) to Rs 1,323, L&T is up 2% (s 20) at Rs 1,015. HDFC, however, has declined 1.58% (Rs 11) to Rs 715.

Infosys has edged lower by a per cent (Rs 16) to Rs 2,236, and Wipro is down a per cent (Rs 5) at Rs 666. While ONGC is trading weaker by Rs 4 at Rs 879, HLL is down a tad at Rs 132.

IT stocks have flared up. Tata Infotech has surged 10.54% (Rs 50) to Rs 520, while Aztech Software has jumped 6.86% (Rs 6) to Rs 93. Geometric has advanced 6.51% (Rs 32) to Rs 522. Hexaware, SSI, Zensar Tech and Tata Elxsi are up in a range of 4-6%.

Metal stocks, too, are in the limelight. Jindal Vijaynagar Steel has soared 7.81% (Rs 28) to Rs 389, and Gujarat Minerals has added 7.71% (Rs 24) to Rs 331. Monnet Ispat, PSL, Gujarat NRE Coke, Bhushan Steel, Lloyd Steel and Welspun Gujarat have gained between 4-7%.