Well sinus infection/inflammation can cause watering from eye, as constantly regular amount of tear fluid bathing our eyes are drained in to nostrils through small drainage channel between inner eye to nose. Hence sinus infection/inflammation which also drain into nostril cause tissue swelling in nose, causing blockage of draining ports. As you still have nasal discharge there could be persistent infection/inflammation of sinuses. Dealing with sinus problem will certainly reduce watering from your eye.