Sensex pares initial gains

After setting a strong opening the Sensex has pared some of its gains and has touched an intra-day low of 18,825, down 117 points from the day's high. On the other hand, the broader markets - the small cap and the midcap indices are moving strong with a 0.7% gain each as compared to the Sensex up 0.4%.

Currently the BSE benchmark index is up 108 points at 18,871 and the Nifty has advanced 32 points at 5,659.

Among the sectoral indices, Realty up 2% continues to lead the gains followed by FMCG, Auto and Bankex indices gaining 0.7% each. Capital Goods index down 0.5% is the only index languishing in the negative.

DLF and Reliance Infrastructure up 4% each are the top gainers among the Sensex-30 stocks. Jaiprakash Associates, Reliance Communications, Mahindra & Mahindra, Sterlite, Tata Motors and HDFC Bank gaining 1% each are the other notable gainers.

Among the losers in morning trades are Tata Steel and L&T losing nearly 1% each followed by Maruti Suzuki, Tata Power shedding 0.4% each.

The market breadth is very positive. Of the total 2439 stocks traded on the BSE, 1580 stocks have advanced while 748 declined.