New Delhi: The markets trimmed their intra-day gains by noon with the benchmark index hovering at 16,327 levels - up 1.1% or 174 points. The 30-share index recorded a high of 16,413 levels during the morning trade.
The Nifty too cut its early morning gains to trade 24 points higher by mid-day. It is hovering at 4,904 levels.
In world markets, U.S. stocks gained on Tuesday as record oil prices lifted energy shares and stronger-than-expected quarterly results at several U.S. regional banks boosted financial companies.
Back home, Infosys Technologies contined its upward march, clocking a gain of over 5.5% or Rs85. Strength is also visible in TCS Ltd, Wipro, Tata Steel, HDFC, DLF Limited, Grasim Industries, Ranbaxy Laboratories, Satyam Computer and Reliance Energy.
Among sectoral indices, the BSE IT index is the biggest gianer that firmed up 4.3% in noon deals. BSE consumer durables, TECk, realty, oil and gas, metal and the BANKEX are also trading in positive turf.