Markets steady in noon trades

Markets have paired some of its gains. The Sensex is now up 177 points at 16,368.

Earlier in the day the index had opened at 16,191 and surged to touch a high of 16,423 - up 232 points from the previous close. However, weakness in healthcare and FMCG stocks have dragged the markets lower from the day's high.

The BSE mid-cap and small-cap indices have underperformed the broader markets. The indices are up around 0.5% each at 6,476 and 8,241, respectively.

The BSE metal index has rallied 2% to 16,145. The IT, realty and bankex are also up over 1% each.

Hindalco has jumped 4% to Rs 156. Jaiprakash Associates has surge 3.6% to Rs 134.

Tata Steel and Sterlite have gai8ned 2.2% each to Rs 575 and Rs 762, respectively.

Maruti Suzuki has added 2% to Rs 1,400. Other auto stocks- Tata Motors and Hero Honda have advanced 1.6% each to Rs 710 and Rs 1,708, respectively.

Other stocks which have gained are the IT stocks, the banking stocks and the cement and realty stocks.

However, Mahindra & Mahindra is slightly in the red at Rs 994.

The BSE market breadth is marginally positive. Out of 2,753 stocks traded, 1,517 have advanced while 1,143 have declined.