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Markets pare gains in noon trades

Markets have edged lower in noon trades. The Sensex is now flat at 17,531 - up 12 points. The Nifty is flat at 5,249. Earlier in the day, the nifty had touched a high of 5,261 - its highest in two months. The BSE consumer durables index has gained 1% at 4,183. FMCG and auto stocks are also in green. However, IT, realty and oil stocks have edged lower in noon trades. Bharti Airtel has gained 2.6% at Rs 308. Reliance Communications has added 1.3% to Rs 167. Tata Power is up 1.4% at Rs 1,366. SBI, Jaiprakash Associates, Hero Honda and ACC have added over 1% each. On the other hand, HDFC continues to show weakness and is down 1.3% at Rs 2,700. Mahindra & Mahindr and Sun Pharma have dropped nearly 1% each at Rs 1,077 and Rs 1,679, respectively.