Sensex holds 17k

The Sensex is quoting at 17075, up 155 points and the Nifty is at 5123, up 44 points.

----------------------------------------------------------------------------------------------------------------------

(Updated at 1431pm)

The Sensex has managed to hold the 17k mark in the noon session. The barometer index had surpassed the 17000 mark at opening bell itself and was comfortably cruising along before coming off about 100 points and risking a break below the psychological mark. However, the Sensex held on to the mark and is now quoting at 17077, up 155 points and the Nifty is at 5125, up 46 points.

RIL has assumed the top position on the BSE gainers list. The index heavyweight is quoting at Rs 1044, stronger by 2.8%. BHEL has gained 2.7% at Rs 2394 and M&M has added 2.7% at Rs 607. Jindal Steel, HDFC and HDFC Bank are the other substantial gainers.

Telecom stocks are seeing profit-booking after the stellar gains of the recent past. Bharti Airtel has extended its losses and is now down 3.8% at Rs 274 and RCom has lost 0.2% at Rs 173. Among the other major losers, Sterlite has shed 0.7% at Rs 637 and Infosys has lost 0.5% at Rs 2632.

The market breadth remains positive, though. Out of 2854 stocks traded on the BSE, there are 1620 advancing stocks as against 1122 declines.