Markets off day's high

Markets have pared some of its gains in late-noon trades. The Nifty, after touching a high of 6,147 is now up 29 points at 6,132.

The Sensex is now up 109 points at 20,498.

Earlier in the day, markets had surged to multi-week highs on strong Asian cues. Bankex had helped the rally.

All the sectoral indices are in green, barring IT which is witnessing a bout of profit booking.

CNX IT index is down 0.17% at 7,491.

FII investments helped the Sensex to surge this year. Foreign funds have sold shares worth a net Rs 1172.87 crore this month, as per the data from the stock exchanges. Domestic funds have sold shares worth a net Rs 360.12 crore this month, as per data from the stock exchanges.

Upbeat data from US markets helped Asian indices to end in green. Shanghai Composite ended up 1.7% at 2,808. Taiwan was up 0.73%.

Among IT stocks, Core Projects has dropped 11% today to Rs 295. GTL, HCL Tech, Infosys and Wipro have all dropped in trades.

However, Mindtree, HCL Infosystem, MoserBaer and Tulip Telecom are shining in the same space.

NTPC. HDFC and Jindal Steel are the top losers in the market today. Sterlite, Dr Reddy's. HCL Technologies and Cairn India are also down in trades.

Meanwhile, Reliance Communications has surged 3.4% to Rs 143. Bajaj Autom Jaiprakash Associates, Reliance POwer and Reliance Infrastructure are all down in trades.