Indices have come off their highs as traders exit some of their long positions on the last day of F&O settlement. Asian markets remain mostly firm while Europe has opened higher.

Sensex is trading higher by 28 points at 12651 at 01.10 PM.

Nifty is now trading higher by 5 points at 3662.

OBC has rallied after a firm opening and is now trading nearly 3.5 per cent higher. ICICI Bank is holding on to gains of over 2 per cent. HDFC Bank has gained further and is trading 2 per cent higher.

Nalco has also moved up and is trading nearly 3 per cent higher. SAIL is the other gainer among metals, trading more than 1.5 per cent higher.

M&M has also moved up more than 2 per cent. Maruti is trading flat after results announcement.

Among capital goods stocks, ABB and Suzlon continue to trade with around 2 per cent gains.

SCI has rallied nearly 5 per cent after the company announced a doubling of net profits for the latest reporting quarter.

Satyam is the best performer among tech stocks, having gained over 1.5 per cent. Infosys is holding on to gains of well over a per cent.

Oil marketing stocks have lost further ground. HPCL remains the worst performer among index stocks, down more than 4 per cent. BPCL has slipped more than 3.5 per cent.

Chennai Petroleum is the major loser in oil & gas stocks, down 8 per cents.

Bajaj Auto has declined further and is down more than 2.5 per cent while Hero Honda remains weak by more than 1.5 per cent. TVS Suzuki has slumped nearly 8.5 per cent after disappointing results.

Jet Airways has also lost further ground and is down more than 1.5 per cent.

FMCG stocks HLL and ITC are down around 1.5 per cent each.

Pharma stocks Ranbaxy and Glaxo remain weak with losses of around 1.5 per cent each.

IPCL is the other major loser, down more than 2 per cent.

Mid-caps and small caps are holding on to their mid-morning levels. The NSE mid-cap index is now trading with gains of over 0.1 per cent. BSE mid-cap index is trading 0.45 per cent higher and the small-cap index is trading with gains of 0.6 per cent. Market breadth on the NSE remains positive in early afternoon trades with nearly 1.5 stocks advancing for every declining stock.

Geojit Financial Services, DCM Shriram Consolidated, Talbros Automotive, Dolphin Offshore, DCM and Ruby Mills remain locked in the 10 per cent upper circuits.

Indian Card Clothing, Peninsula Land and ITD Cementation are among the major mid-cap gainers.

Videocon Industries, Khaitan Electricals, Easun Reyrolle, Softpro, Lyka Labs, Nocil and Hitech Gear are the major mid-cap losers.