Mumbai: Equity benchmarks were subdued on Friday morning as investors awaited corporate results this week.
Corporate earnings show a sense of the consumption trends in the economy. Investors are likely to adopt a cautious approach with general elections due to be held in seven phases beginning on April 11.
At 10:15 am, the BSE S&P Sensex was up 35 points at 38,897 while the NSE Nifty 50 gained 4 points to 11,669.
All sectoral indices except IT and auto were in the green.
Power Grid, Zee Entertainment, Bharti Airtel, JSW Steel, and Hindustan Lever gained marginally while Bharat Petroleum, Indian Oil, Adani Ports, Yes Bank and Cipla were among the losers.
Meanwhile, Asian shares inched up to seven-month highs following hints of more fiscal stimulus in China.
In a document published on the central government’s website late on Sunday, Beijing said it will step up a policy of targeted cuts to banks’ required reserve ratios to encourage financing for small and medium-sized businesses.