Market remains steady

At 3:00 pm (IST), the BSE 30-share Sensex is up by 282 points at 10896 and NSE Nifty is up by 74 points at 3190.

The markets continue to trade firm after overcoming the opening jitters. Infosys has led the bounce back in the market. L&T, Wipro, BHEL, ACC, ITC and Hindalco are the other major gainers among the 30 Sensex stocks.

Infosys has reported 18% sequential growth in net profit at Rs. 7.94bn and has revised its FY07 earnings and revenue guidance . Infosys results are above expectations and is having a positive impact on the IT stocks.

Wipro has gained by over 3% to Rs. 311, TCS has gained by 5% to Rs. 1866 and Infosys has advanced by 7% to Rs. 3364.

Pharma stocks are trading firm. Dr.Reddy’s Lab has gained by 1% to Rs. 1337, Lupin is traing at Rs. 905, up by 2%, Aurobiindo Pharma is up by 2.54% to Rs. 607 and Matrix Labs has gained by 1% to Rs. 607.

FMCG stocks have witnessed fresh buying. Dabur has gained by 1% to Rs. 148, ITC has gained by 1% to Rs. 181, Marico India was up by 3.28% to Rs. 493 and Norma gained by 0.5% to Rs. 397.