Markets off day's high

Makets have pared some of its early mornng gains as investors took to booking profits.

Sensex touched a high of 20,089 - its highest in 32 months. The index thereafter, dropped to to the red at 19,861. The BSE benchmark has now recovered marginally at 19,945 - up 40 points.

Nifty after crossing the 6,000 mark dropped into the red. The index is now trading at 5,987 - up six points.

The CNX Nifty Junior, has dropped 0.5% at 12,633. PFC has dropped 2.5% to Rs 345. Syndicate Bank, Canara Bank, IDBI and Andhra Bank have shed over 2% each.

JSW Steel, OFSS and Tata Teleservices are some of the other losers in the index.

Nifty losers list is being led by DLF - down 2% at Rs 358. Hindalco, Ambuja Cements and ICICI Bank are down 1.5% each at Rs 191, Rs 143 and Rs 1,110, respectively.

Some of the other prominent losers are Jaiprakash Associates, ABB, Reliance Infrastructure, ITC and Reliance.

However, pharma stocks are holding strong gains. Ranbaxy is now up 4.5% at Rs 557. Sun Pharma has surged 3% to Rs 1,935. Cipla is up 1.6% at Rs 321.

Kotak Mahindra Bank has gained 2.3%, followed by Larsen & Toubro, Wipro, HDFC and Mahindra & mahidnra. Hero Honda, Power Grid, HDFC Bank and BHEL have advanced over 1% each.