Sensex up 85pts; financial stocks bounce back

The Sensex is now up 85 points at 14,809.

The NSE Nifty is up four points at 4,434.

Financial stocks have bounced back strongly after the recent spate of profit-taking. HDFC has soared nearly 4% to Rs 2,377. HDFC Bank has surged 3.7% to Rs 1,219, and ICICI Bank has rallied 2% to Rs 687.

Technology stocks, too, continue to hold gains. Satyam has gained 2.7% at Rs 423. TCS has advanced 2% to Rs 848.
Infosys and Wipro have moved up 1.7% each to Rs 1,720 and Rs 436, respectively.

Hindustan Unilever has gained over 2% at Rs 244. BHEL, Jaiprakash Associates and Larsen & Toubro are up around 2% each at Rs 176, Rs 2,712 and Rs 1,742, respectively.

Hindalco has plunged 3.5% to Rs 131, and Grasim has shed 2.5% at Rs 2,005.

Reliance Communications and Sterlite have slipped 1.5% each to Rs 417 and Rs 611, respectively.

Reliance, ACC and Tata Steel are down 1% each to Rs 2,248, Rs 603 and Rs 610, respectively.