After briefly slipping into negative terrain in early afternoon trade, key equity indices bounced back in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 18.80 points or 0.05% at 38,625.81. The Nifty 50 index was up 5.45 points or 0.05% at 11,602.15.
The S&P BSE Mid-Cap index was up 0.15%. The S&P BSE Small-Cap index was up 0.24%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1213 shares rose and 1081 shares fell. A total of 154 shares were unchanged.
Infosys rose 0.16% ahead of its Q4 March 2019 result today, 12 April 2019.
TCS was down 0.25% ahead of its Q4 March 2019 result today, 12 April 2019.
Most auto shares rose. Maruti Suzuki India (up 1.06%), Hero MotoCorp (up 1.04%), Escorts (up 1.02%), Bajaj Auto (up 0.66%), TVS Motor Company (up 0.48%) and Eicher Motors (up 0.13%), edged higher. Mahindra & Mahindra (down 0.02%), Ashok Leyland (down 0.58%) and Tata Motors (down 1.08%), edged lower.
Most cement shares advanced. Ambuja Cements (up 1.28%) and UltraTech Cement (up 0.35%), edged higher. ACC was down 0.22%.
Grasim Industries was up 0.27%. Grasim has exposure to cement sector through its holding in UltraTech Cement.
On the macro front, industrial production data for February 2019 will be unveiled after market hours today, 12 April 2019. The inflation rate for March 2019 will also be announced today.
Overseas, most European shares declined as investors continue to remain concerned over global growth.
Meanwhile, European Union leaders agreed to postpone Brexit until Oct. 31 to allow British Prime Minister Theresa May more time to try to get the U.K.'s Parliament to approve the country's divorce deal.
Asian stocks were trading mixed as caution prevailed ahead of the release of first-quarter corporate earnings.
US stocks were little changed on Thursday as growing anxiety over a global economic slowdown offset upbeat data and investors waited for earnings season to kick into high gear.
In US economic data, new applications for jobless benefits fell to 196,000 in the week ended April 6, the lowest number in 50 years, the Labor Department said.
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