Sensex pares gains in noon trades

The markets continue to pare their initial gains with the Sensex at 19,409 up 120 points. This is down 166 points from the day's high of 19,575. The Nifty too has pared most its gains and is currently at 5,816 gaining 28 points.
 
In the broader markets, the midcap index has slipped into the negative, down 0.2% while the smallcap index is flat at 8,164. The benchmark index, Sensex up 0.6%, is outperforming the broader markets.
 
Among the sectoral indices, Realty, Bankex, Auto and Health Care indices have slipped into the negative in the mid-noon trades. Meanwhile, IT index gaining 1.5% leads the chart followed by FMCG, Capital Goods and Oil & Gas adding 0.7- 0.9%
 
The gainers among the Sensex-30 stocks are Hero Honda up 3% followed by TCS, Infosys, ONGC, Bajaj Auto, NTPC, Hindustan Unilever, ITC adding between 1-2%.
 
On the losers side are Reliance Communications, SBI, Cipla and Mahindra & Mahindra down 2% each.

The market breadth is negative. Of the total 2777 stocks traded on the BSE, 1403 stocks have declined while 1269 have advanced.