Markets marginally higher, Sensex up 60pts

The markets extended their gains marginally in noon trades, with the Sensex at 18,147 up 60 points, and the Nifty at 5,436 up 15 points.

Reliance Industries was the top gainer on the Sensex up more than 1% at Rs 914, followed by TCS at Rs 1,166 and Mahindra & Mahindra at Rs 677 both up 1% each. Bajaj Auto, ITC and Sterlite Indsutries were up 1% each.

On the other hand, Reliance COmmunications was the tp loser on the Sensex at Rs 84 down more than 2%, while Tata Power at Rs 1,221 and Hero Honda at Rs 1,798 shed 2% each. DLF declined 2%, and Reliance Infra, Larsen & Toubro and Tata Steel slipped 1% each.

The broader markets were trading flat with a negative bias, with the Mid-cap index at 6,734 and the Small-cap index at 8,168 down 0.4% and 0.3% respectively.

Energy stocks continued to lead the sectoral indices chart, with the Oil & Gas index advancing more than 1% to 9,294.

The Realty index shed 1.4% to 2,092, and was the major laggard on the sectoral indices chart.

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(Updated at 1240 hrs)

A positive start in the markets, this morning, was followed by a steady decline into the red. In the late morning session, the Sensex, which touched its low at 18,058, partially recovered its losses, and was quoting at 18,116 up 30 points. THe Nifty was at 5,425 up 4 points.

The broader markets were trading with a negative bias; the Mid-cap index was at 6,732 down 0.5%, while the Small-cap index declined 0.3% to 8,169.

Amongst the Sensex gainers, ITC was up more than 1% at Rs 192, followed by TCS at Rs 1,168 and Mahindra & Mahindra at Rs 678, both up 1% each.

Relaince Communications was the top loser on the Sensex down 3% at Rs 84, while Tata Power at Rs 1,222 and Hero Honda at Rs 1,800 were off 2% each.

Energy stocks recovered after yesterday's beating down; the Oil & Gas index was trading up 1% at 9,263. The FMCG index has been riding steady since yesterday, and advanced 1% to 3,823, followed by the IT index at 6,046 up 0.5%.

The Realty counter was under pressure, and the index was off 1.5% at 2,089. The Capital Goods index showed a decline of 1% at 12,444.

Of the total 2,424 stocks traded on the BSE so far, 980 advanced, while 1,316 declined, indicating a negative market breadth.