16 Feb 01.10 PM: Indices recover and re-test early highs

16 February 2006

After giving up early gains and remaining subdued till mid-morning, the indices recovered before noon. Gains in other Asian markets are helping market sentiment as select large caps are showing good gains.

The Sensex is trading higher by 66 points at 10179 at 01.10 PM. The index saw a new lifetime intra-day high of 10195 early in the morning.

The Nifty is trading higher by 12 points at 3034.

has added to its early gains and is now trading 6 per cent higher. Early in the day, the company said it would acquire a German drug company.

Steel stocks are making a come back. SAIL is now trading more than 4.5 per cent higher after a strong opening. Tata Steel has also gained nearly a per cent.