Markets marginally in green

The market opened lower tracking weak Asian markets, but it recovered from lower levels later, as buying resumed.At 12:05 pm, the Sensex is up 46.26 points at 14908.15 and the Nifty is up 14.80 points at 4368.75.

Telecom stocks gained on renewed buying. Reliance Communications (up 2.20% to Rs 557) and Bharti Airtel (up 1.40% to Rs 865.25) edged higher, on continued buying support.
Ambuja Cements gained 2.10% to Rs 132.ACC (up 1.50% to Rs 1037.15), Grasim (up 0.65% to Rs 2766), UltraTech Cement Company (up1.82% to Rs 916), and India Cements (up 2.69% to Rs 219.25) were the other gainers from the cement sector.

Index heavyweight Reliance Industries (RIL) was up 0.55% to Rs 1,717.50.State bank of India (down 1.01% to Rs 1531.25), Federal Bank (down 1% to Rs 303), and Canara Bank (down 0.93% to Rs 265.50), edged lower.

Wholesale price inflation data for the week ending 23 June 2007 is expected by noon today, 6 July 2007. Annual inflation was 4.03% in the week ending 16 June 2007 - the lowest in 14 months. The fall in inflation has been attributed to decline in prices of certain essential food items and manufactured products and strong base effect.