Sensex momentum slows, still up 37 points

A spell of volatility set in as key benchmark indices trimmed their initial gains -- still up by 37 points -- led by short covering in technology, IT and pharma.
Telecom, capital goods, oil and gas and FMCG showed some weakness.
The market breadth, a gauge of overall health of the market, remained strong. The BSE mid-cap and small-cap indices moved up 0.30 per cent and 0.59 per cent, respectively.
The 30-share index resumed higher and was quoting at 28,330.89 at 1100 hrs, showing a rise of 36.61 points, or 0.13 per cent, from its last close.
The NSE 50-share Nifty was also trading higher by 16.10 points, or 0.18 per cent, at 8,739.15.

Major gainers were TCS 1.41 per cent, PowerGrid 1.31 per cent, Sun Pharma 1.26 per cent and Asian Paints 1.12 per cent.

However, Bharti Airtel fell 1.08 per cent, ICICI Bank 1.04 per cent and ONGC 1 per cent.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 206.40 crore yesterday, as per provisional data.
In overseas stock markets, Asian stocks were mixed amid the first US presidential debate between Democrat Hillary Clinton and Republican Donald Trump.
US stocks extended losses yesterday as worries about Germany's Deutsche Bank weighed on the financial sector and investors waited for the US presidential debate outcome.