Broader markets outperform in noon trades

Mid and smallcap indices gain 0.5-0.6% as compared to the 0.3% rise on Sensex

Markets were trading a tad lower in the noon trades as IT heavyweights like TCS, Infosys and HDFC weighed on the indices. At 1300 hrs, the Sensex was up 69 points at 19,679 and the Nifty was up 23 points at 5,962.

Earlier in the day, the Sensex had touched a high of 19,742 and the Nifty was at a high of 5,981.

The broader markets outperformed the BSE benchmark index with the mid and smallcap indices gaining 0.5-0.6% as compared to the 0.3% rise on Sensex.

European markets started higher for the day, with CAC, DAX and FTSE trading up 0.6-0.8%.

Asian shares recovered from their lowest in about six months but investors cautiously awaited a key U.S. jobs report later in the week as the latest U.S. factory data blurred the outlook for the U.S. Federal Reserve's stimulus program.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3% to break a four-day losing streak.

Chinese shares were the biggest drag on regional bourses, with Shanghai shares shedding over 1%. Japan's Nikkei stock average was up 2%.

Back home, among the sectoral indices, Metal, IT and Consumer Durables were the only indices in the red, losing 0.1-1%. Meanwhile, Health Care index surged over 2% followed by Capital Goods, Power, Oil & Gas, Auto, Bankex, FMCG and Realty indices gained 0.3-1.4%.

The movers among the Sensex-30 were Cipla, Dr Reddys Lab, L&T, Mahindra & Mahindra, ICICI Bank, Tata Steel, NTPC, Wipro and Tata Motors which gained 1-3%.

Among the draggers were Coal India, Jindal Steel and Sterlite down 1-1.5%. HDFC, TCS, Hindalco, Maruti Suzuki, HDFC Bank and Infosys down 0.4-0.8% were the other notable losers.

In individual stocks, Bata India was up nearly 6% at Rs 857 ahead of its Annual General Meeting to be held later today.

The market breadth was positive. 1086 stocks advanced while 963 stocks declined on the BSE.