Markets inched ahead after a flat session in the early trades with the Sensex up 26 points at 18544 and the Nifty steeped up six points at 5,633.
Meanwhile, in the broader markets the smallcap and midcap indices gained 0.4% outperforming the Sensex which was up 0.1%.
Oil & Gas, Consumer Durables, Power, IT and Health Care up 0.3-0.6% were the areas of strength among the sectoral indices. The only ones in the negative were FMCG and Bankex down 0.1% each.
BHEL, Sun Pharma, Reliance Industries and Dr Reddys Lab up 1% each were the top Sensex gainers.
Among the losers were Cipla, Gail India, ICICI Bank and ITC down 0.5-1%.
In individual stocks, Man Industries was down 5% at Rs 133, extending its previous day’s 10% fall, after the company said the Dubai Financial Services Authority has suspended the Global Depository Receipts of the company from its official list.
Blue Dart Express dipped 9% to Rs 1,875 after the promoter of the company fixed a floor price at a discount for its proposed offer for sale.
Cinemax India was locked at upper circuit of 5% at Rs 168, also its new high, after the company engaged in theatre exhibition business said that its promoters are looking to sale their shares.
The market breadth was positive. 1137 stocks advanced while 897 stocks declined on the BSE.
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(Updted at 9:49 hrs)
Indian shares pare gains and traded flat in early morning trades on uncertainty over government's ability to push through key reforms in the winter session of the Parliament but hopes of global growth recovery prevented a sharp decline in shares.
At 9:45AM, Sensex has declined 3 points to 18,514 and the 50-share Nifty fell 2 points to 5,625.
Global risk appetite, however, improved after surge in manufacturing output from China and the United States raised hopes that the global growth recovery is gaining momentum.
The Hang Seng advanced 0.3% or 70 points at 21,813, Nikkei advanced 1.56% or 144 points at 9,366, Straits Times rose 3 points at 2,989 and the Taiwan Weighted gained 174 points to 7,279.
MSCI's broadest index of Asia Pacific shares outside Japan was little changed, with a rise of 0.2 percent.
On Thursday, the U.S. stock market were closed for the Thanksgiving holiday, and today it will close early at 1 p.m.
On the domestic front,oil & gas, technology and consumer durable sectors on BSE lead gains while PSU and banks were the laggards.
HDFC, country's biggest mortgage lender, fell 0.07% while ICICI Bank, State Bank of India dropped 0.4% each on the BSE.
Cipla dropped nearly 1% each after the Cabinet today endorsed the recommendations of a Group of Ministers’ (GoM) on a revised National Pharmaceutical Pricing Policy, giving shape to a long-pending issue.
Hindustan Copper Ltd, a state-owned copper producer, fell as much as 18.6 % after the government set the base price for its 4% stake sale due later in the day at well below current prices.
The BSE mid-cap and small-cap indices rose between 0.1-0.25% each.
The overall breadth is positive as 851 stocks have advanced while 708 stocks declined.
