Sensex edges higher; Pharma stocks attract attention @ 12:45 hrs

The Sensex, which gave up its gains and drifted down into the negative zone around noon, has edged up once again thanks to selective buying at lower levels in a few front line stocks.

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At 17,072.88, the BSE barometer is now up 22.23 points or 0.13% over its previous closing mark. The Nifty has gained 0.21% or 10.80 points at 5073.05.

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A few stocks from information technology, realty, metal, pharma and automobile sectors are trading firm. Oil, capital goods and bank stocks remains quite subdued today. Midcap and smallcap stocks have managed to outperform the market.

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Wipro, Infosys Technologies, Tata Consultancy Services, Tata Motors, ONGC, Tata Steel, Jaiprakash Associates, Tata Power, DLF and Mahindra & Mahindra are up 0.5% - 2%.

Reliance Industries has lost around 1.25%. Reliance Infrastructure is down with a loss of 1.9%. Larsen & Toubro is down by about 1.2%. BHEL, ICICI Bank, Hindalco, Sterlite Industries, Sun Pharmaceuticals, State Bank of India and HDFC are also exhibiting weakness.

Orchid Chemicals, Piramal Healthcare, Glenmark Pharmaceuticals, IPCA Laboratories, Cipla, Ranbaxy Laboratories, Biocon and Dishman Pharma are among the prominent gainers in the healthcare index. Wockhardt has announced that it has launched anti-hypertensive drug Nicardipine injections in USA. The pharma stock is up with a modest gain at Rs 184 at present.

Midcap stock UTV Software has gained over 6% at Rs 473. Asian Star is up 5.8% at Rs 1195. BOC India has moved up by over 5.5% on unusually strong volumes. Maharashtra Seamless is also up by around 5.5%.

Essar Shipping, Pantaloon Retail, EIH, Jubilant Organosys, GE Shipping, Redington India, Hindustan Oil Exploration, Jai Corp, Patni Computer Systems, Hotel Leela venture, McLeod Russel, Exide Industries and Cadila Healthcare are some of the other prominent gainers in the midcap space.

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Among smallcaps, Varun Shipping has vaulted 10% to Rs 60.50. Garware Offshore, EIH Associates, Hindustan Motors, Mukand, Mercator Lines, Electrosteel Castings, McNally Bharat, Karuturi Global, Mahindra Forgings and Lakshmi Machine Works have gained 5% - 10%.

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