Sensex holding 60 points higher

Frontline Indian indexes have come off their morning highs as select technology and metal stocks remain under pressure. Other Asian markets are holding on to their gains while Europe has opened with good gains.

Sensex is trading higher by 60 points at 14278 at 01.10 PM IST.

Nifty is now trading higher by 21 points at 4188

MTNL is the best performer among index stocks, with gains of nearly 3 per cent.

ICICI Bank has moved up further and is now trading nearly 2.5 per cent higher.

Suzlon Energy has added close to 3 per cent.

Gail India and Reliance Petroleum are trading 2 per cent each higher while HPCL has added 1.5 per cent.

L&T and Siemens have moved up 1.5 per cent each.

Dr. Reddy's is holding on to gains of close to 2 per cent.

HLL is the other major gainer, trading 1.5 per cent higher.

Hero Honda has slipped further and remains the worst performer among Nifty stocks with losses of over 3.5 per cent.

Among tech stocks, HCL Tech is down nearly 2 per cent while Satyam has lost over 1.5 per cent.

HDFC is now trading well over 1.5 per cent lower.

Among metals, Nalco has lost over a per cent while Hindalco and Tata Steel have slipped nearly a per cent each.

ONGC has lost close to a per cent.

Gujarat Ambuja Cement and Dabur are the other major losers.

Mid-caps and small caps have slipped after the modestly firm start. The NSE mid-cap index is now trading with losses of 0.25 per cent. BSE mid-cap index has lost marginally and the BSE small-cap index is down 0.25 per cent.

Binani Industries, Cholamandalam DBS, Godfrey Philips and STI India remain locked in 10 per cent upper circuits.

Sunil Hitech, HBL Power, PSL, Vijaya Bank Lumax Autotech and Visual Soft are the other major gainers among mid-caps and small caps.

Rei Agro remains locked in 20 per cent down circuit while GHCL, genus Overseas and Sirpur Paper have lost 10 per cent each.

Khandwala Securities, Jai Balaji Sponge, BIL, Cyber Media and Ramco Systems are the major losers among mid-caps and small-caps.

Thomas White Global Research, part of the Thomas White International Group, publishes capital market research for global institutions and investment banks, and is headed by Thomas White, a former managing director of Morgan Stanley Asset Management.

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