Market pares early gains, up 89 points in late morning trade

The BSE benchmark Sensex reverted below the psychological 25K-level, but still trading up by 88.81 points in late range-bound morning deals, tracking mixed Asian cues.
While buying was led by capital goods, industrials, telcom, IT, teck, consumer durables, realty and healthcare sectors, profit-booking was witnessed in metal, oil & gas, energy and banking counters.
The Sensex opened higher at 24,982.22 and moved in a range of 25,002.32 and 24,846.24 before quoting at 24,959.50 at 1100 hours, up 88.81 points from the last close.
The 50-share Nifty also moved up by 28.85 points, or 0.38 per cent, to 7,592.40 at 1100 hours.

Major gainers were, L&T by 4.34 per cent, Adani Ports by 3.06 per cent, CIPLA 2.83 per cent, Asian Paints 2.14 per cent, Bharti Airtel 1.69 per cent, Lupin 1.53 per cent, Wipro 1.51 per cent and Tata Steel by 1.36 per cent.
However, ICICI Bank fell by 2.19 per cent followed by Maruti 2.39 per cent, SBI 1.97 per cent, Axis Bank 1.64 per cent, Coal India 1.02 per cent and HeroMotoco 0.97 per cent.

Foreign portfolio investors (FPIs) bought shares worth Rs 571.70 crores last Friday, as per provisional data released by the stock exchanges.
Overseas, Asian markets were trading lower after sharp gains in previous trading session. Latest data showed that China's Caixin manufacturing purchasing managers' index (PMI) inched up to 48.4 last month.

US stocks closed sharply higher last Friday after the Bank of Japan unexpectedly adopted a negative interest rate policy for the first time.