Markets pare gains; Sensex slips below 31,000 in noon deals

The benchmark indices pared some intraday gains, with the S&P BSE Sensex slipping below its crucial 30,000-mark in the afternoon trade ahead of the derivatives expiry of June series. 

At 1:10 pm, the S&P BSE Sensex was trading at 30,911, up 76 points, while the broader Nifty50 was ruling at 9,516, up 25 points.

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices outperformed to gain 0.5% and 1%, respectively.

Market breadth depicted strength. There were almost 3 gainers against every loser on BSE. 1,726 shares rose and 581 shares declined. A total of 119