Markets pare gains, Sensex up 100pts

The markets have pared some of their gains in early noon deals  mainly on account of disappointment on the earnings front. The Sensex which touched a high of 17,392, is now up 96 points at 17,289.

The NSE Nifty is up 30 points at 5,199.

HDFC Bank and Sun Pharma top the gainers list among the Sensex stocks, up nearly 3 per cent each.

Hindalco, Hero MotoCorp, Bharti Airtel, Wipro and Infosys are the other prominent gainers.

On the other hand, Mahindra & Mahindra has slipped over 2 per cent to Rs 820. Tata Steel and Coal India are the other notable losers.

The BSE IT and Healthcare indices have advanced over 1 per cent each to 5,814 and 6,116, respectively.

In broader markets, Sun TV has soared 5.5 per cent to Rs 290. Mundra Port, United Spirits, Torrent Pharma, Wockhardt and Ranbaxy are the other major gainers.

On the other hand, Shree Renuka Sugars has slumped 28 per cent to 37.20. Dish TV, Educomp Solutions, Aurobindo Pharma, HDIL and Sintex are the other major losers.

Other sugar stocks like Balrampur Chini, Bajaj Hindusthan, Sakthi Sugars and Triveni Engineering have also logged heavy losses.

The market breadth is fairly negative - out of 2,759 stocks traded so far on the BSE, 1,626 have declined.