MARKET LIVE: Indices pare gains, Nifty below 12,050; private banks rally

Benchmark indices pared their opening gains on Friday to trade flat with a positive bias.

The S&P BSE Sensex was trading 80 points, or 0.2 per cent, higher at 40,990 levels. IndusInd Bank, Mahindra & Mahindra, and Hero MotoCorp (all up 1%) were among the top gainers in the Sensex pack. On the other hand, ONGC and Powergrid, both dipped 1 per cent each.

The broader Nifty50 index was trading around the psychological 12,050-mark, up 10 points.

Majority of the Nifty sectoral indices were trading in the green. Nifty Private Bank and Nifty Bank indexes were both up 1 per cent each. On the other hand, Nifty Metal index slipped 0.3 per cent.

In the broader market, the S&P BSE MidCap index ticked up 10 points, or 0.06 per cent, and the S&P BSE SmallCap index gained 46 points, or 0.3 per cent.