Markets have pared some morning gains as selling in IT space continued to weigh on the index. At 10:25 am, the Sensex was up 33 points at 19,381 and the Nifty was up seven points at 5,896.
Meanwhile, the broader markets continue to remain strong with the smallcap up nearly 0.7% and the midcap index remained steady with 0.4% gains, both outperforming the Sensex which was up 0.2%.
Among the sectoral indices, IT slipped over 1% and power turned flat with a negative bias. Among the winners, Metal, Realty and Capital Goods retained their 1% gain each. Auto, Bankex, PSU and Consumer Durables up 0.5% each were the other major index gainers.
Among individual stocks, Tree House Education and Accessories soared 16% to Rs 275 after the board of educational services providers approved the allotment of equity shares to Aditya Birla Private Equity and ON Mauritius on preferential basis.
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(Update at 9:16am)
Markets started off on a strong note with the Sensex starting up 62 points at 19,410 and the Nifty gained 25 points to open at 5,913.
In the broader markets, the midcap and smallcap indices gained 0.5% outperforming in the Sensex which was up 0.4%.
In the international markets, U.S. stocks finished slightly lower in a quiet session on Tuesday as the back-and-forth wrangling over the "fiscal cliff" gave investors little reason to act.
The Dow Jones industrial average fell 13.82 points, or 0.11 percent, to 12,951.78 at the close. The Standard & Poor's 500 Index dipped 2.41 points, or 0.17 percent, to 1,407.05. The Nasdaq Composite Index shed 5.51 points, or 0.18 percent, to close at 2,996.69.
Asian markets were trading higher with the only exception being Jakarta Composite down 0.3%. Among the other markets, Hang Seng and Shanghai Composite were the major gainers up 1% and 3% respectively.
Among the sectoral indices, Realty, Metal, Auto, Capital Goods, Health Care, PSU, Power and Bankex indices started off 0.5-1% higher in opening trades. However, IT index was flat with a negative bias.
The top gainers among the Sensex -30 were metal names like Sterlite, Tata Steel, Jindal Steel and Hindalco up 1-2%. Cipla, BHEL, Sun Pharma, SBI and Tata Motors which gained 1% each were the other notable gainers.
Bharti Airtel,Infosys and Tata Power down 0.2-1% were the only stocks in the red among the Sensex-30.
In individual stocks,BEML rallied 5% to Rs 306 after the state-owned company said that it has received orders worth of Rs 523 crore from the Indian railways and from Saudi Arabia.
The market breadth was very strong on the BSE. 856 stocks advanced while 208 stocks declined.
