Markets pare gains

The markets have pared its gains on the news of a special court rejecting bail plea of five telcom officials in the 2G trial case.The Sensex is up 87 points at 19,208 and the Nifty is up 30 points at 5,770.
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(Updated at 1239 hrs)
With no major triggers to move the market either ways, the Sensex continued to trade firm. The BSE benchmark index gained 181 points at 19,301 and the Nifty advanced 57 points at 5,797. The broader markets remained stable with a 1% gain outperforming the Sensex, up 0.8%.

Along with IT and Realty, Auto, Consumer Durables and Metal indices gained 1% each. Capital goods and FMCG up 0.5% each were the laggards among the BSE sectoral indices. Bankex index remained stable with a 0.7% gain even after a positive result posted by Yes Bank.

Among the realty stocks, Godrej Properties, Indiabulls Real Estate up 3% each lead the gains followed by HDIL, DLF, Orbit Corporation, Parsvnath Developers added between 1-2%.

Mahindra & Mahindra advanced further with a 4.5% gain to lead the Sensex stocks at Rs 759.TCS, Tata Motors, DLF and ONGC which  gained 2-3% were the other prominent gainers.

Hero Honda down 3.5% continued to be the only loser on the Sensex.

The market breadth was positive. Of the total 2790 stocks traded on the BSE, 1894 stocks had advanced while 803 declined.

On the result front, Yes Bank announced its Q3 result in the past hour. The company's Q4 net profit was up 45% and its net interest income was up 43%. The stock price is up 2% at Rs 330.