Markets in consolidation mode

The markets continue to consolidate it's gains in mid-noon trades. The Sensex is now up 100 points at 20,609. The NSE Nifty has added 31 points to 6165.
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(Updated at 1143 hrs)

Markets pared gains on profit taking after the Sensex hit multi-week high in morning trades. The Sensex dropped to a low 20,567 as select stocks dropped in trades.

The Sensex traded up 80 points at 20,589. Nifty edged up 25 points at 6,159.

BSE mid and small-cap indices outperformed the broader markets. Mid-cap index added 1% to 7,880. Small-cap was up 1.5% at 9,811.

India's exports in November rose an annual 26.5% to $18.9 billion, while imports for the month grew 11.2% on the year to $27.8 billion, government data released on Monday showed.

Most sectoral indices were in the green. However, the IT index dropped marginally to 6,818.

Metal index jumped 2% to 17,933. Auto index 0.8% at 10,321.

Tata Steel surged 3% to Rs 699. Sterlite and Sesa Goa jumped 2.4% each to Rs 191 and Rs 336, respectively.

Among auto stocks, Apollo Tyres, Mahindra & Mahindr and Ashok Leyland gained.

Oil marketing companies moved up. HPCL and BPCL advanced 1.5% each. IOC jumped 2.7%.

The output of six key infrastructure sectors grew 2.3% in November 2010 from a year ago, the slowest pace in the last 21 months, raising the prospects of a drop in industrial growth for the month.

Meanwhile, NTPC shed 1% to Rs 199. Hindustan Unilever slipped 0.6% to Rs 310. BHEL, HCL Tech and Bharti Airtel were in red.