The benchmark indices were trading flat on Friday taking a lead from Asian markets, which appeared to take in stride the resumption of the US technology rout overnight,
Investors also took cues from the Bank of Japan
maintaining status quo in its June board review, pledging to keep asset purchases around the current target of 80 trillion yen ($727 million).
At 11:52 am, the S&P BSE Sensex
was trading at 31,082, up 6 points, while the broader Nifty50 was ruling at 9,581, up 4 points.
In the broader market, the S&P BSE Smallcap index gained 0.5% to hit its record high, while the S&P BSE Midcap index was up 0.4%.
"Going ahead, 9,550 would be seen as immediate support levels; whereas on the higher side, 9,610-9,650 remains to be intraday hurdles for the Nifty," said brokerage Angel Broking in a technical note.
Tata Motors, ITC and Mahindra & Mahindra were the top gainers on the BSE, while Wipro (down 2%) shed the most.
Ipca Laboratories tanked 15% to Rs 437 on BSE in intra-day trade after the company said the US Food and Drugs Administration (USFDA) has refused admission to all drugs made at the company's Pithampur and Silvassa facility. The stock is currently trading near to its 52-week low of Rs 435 touched on June 24, 2016.
BOJ keeps policy steady
The Bank of Japan
kept monetary policy steady on Friday and offered a more upbeat view on private consumption and overseas economies, signalling its confidence that the recovery was gaining momentum.
"Private consumption has increased resilience against a background of steady improvement in the employment and income situation," the BOJ said in a statement announcing the policy decision.
In a widely expected move, the BOJ maintained the 0.1% interest it charges on a portion of the excess reserves that financial institutions park with the central bank.
Asian stocks were steady on Friday, appearing to take in stride the resumption of the US technology rout overnight, while the dollar held near a two-week high after solid economic data backed the case for tighter US monetary policy.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat, on track to end the week down 0.7%.
Japan's Nikkei jumped 0.5% narrowing its loss for the week to 0.4%.
Overnight, the Nasdaq led losses on Wall Street
with a 0.5% drop, dragged lower by shares including Apple and Alphabet that tumbled on bearish analysts' reports. The S&P 500 technology index also declined 0.5%.
The broader S&P 500 index fell 0.2% and the Dow Jones Industrial Average slipped 0.1%.
(With inputs from Reuters)