This is the third straight day of lacklustre trade in Indian stocks. Markets were uncharacteristically flat ahead of the derivatives expiry. At 1 p.m., the Sensex rose 25 points or 0.15% higher at 16,993, while the Nifty index advanced 6 points to 5,148.
European markets were flat, while Asian stocks saw mixed trade today. Japan's Nikkei index soared 1.65% on the back of positive data from the US, where pending home sales rose in May.
Auto stocks (-0.5%) saw selling pressure, mainly on account of the underperformance in Tata Motors (-1.6%), which fell for the second straight day.
Banking stocks were down on the back of large block deals in private sector lender Axis (-2.3%) and Yes Bank (-2.2%). State Bank of India (-1.2%), India's biggest lender, also saw selling pressure.
Power stocks continued to be in the uptrend over optimism of further reform in the sector. Shares in Tata Power (1.2%) saw buying interest for the second day on the back of the tariff hike in Delhi, a key market for the power utility firm. Reliance Infra (-1.2%) saw profit booking though.
On the Nifty, 29 of the 50 stocks traded higher. Infra major Jaiprakash Associates (1.5%) was the top gainer, followed by engineering goods manufacturer Siemens India (1.5%).
IT major Infosys (1.1%) outperformed other frontline IT stocks today.
The market breadth was neutral with 50% stocks managing to advance on the broader BSE 500 index.