Benchmark indices further pared gains in afternoon trade. The Nifty slipped below the crucial 15,000 level. Gains were capped as the Brent crude futures surged above $70 a barrel on Monday, following reports of attacks on Saudi Arabian facilities. Higher crude oil prices could increase fiscal deficit, current account deficit and stoke fuel price inflation.
At 13:20 IST, the barometer index, the S&P BSE Sensex, was up 134.27 points or 0.27% at 50,539.59. The Nifty 50 index rose 47.45 points or 0.32% at 14,985.55.
Infosys (up 1.48%), Reliance Industries (up 0.89%) and Larsen & Toubro (up 3.55%) supported the indices. HDFC (down 1.09%), ICICI Bank (down 1.09%) and HDFC Bank (down 0.63%) were major drags.
The broader market was trading firm. The S&P BSE Mid-Cap index rose 0.43%. The S&P BSE Small-Cap index added 0.90%.