Mumbai: Equity benchmark indices opened higher for the fourth consecutive session on Thursday but selling pressure held them flat.
At 11:15 am, the BSE S&P Sensex was up 57 points at 36,693 while the NSE Nifty 50 inched up 1.45 points to 11,054 level.
Shares of Larsen & Toubro (L&T) traded 3 percent higher after the company’s construction arm received orders for its buildings and factories, metallurgical and material handling, and geo-structure businesses across many states.
Among other gainers were Hindustan Petroleum, Power Grid, Bharti Infratel, and GAIL. Vedanta, Indiabulls Housing Finance, Coal India and Tata Steel traded on the downside.
The most active stocks were Reliance Industries, Indiabulls Housing Finance, Deewan Housing Finance, and Tata Elxsi.
Meanwhile, Asian shares were sluggish as global growth concerns returned. On Wednesday, the OECD projected that the global economy will grow by 3.3 percent in 2019 and 3.4 percent in 2020.
As major risks persist, the growth is weakening much more than expected in Europe and much of G20 countries.
Asian investors also awaited fresh clues on the progress of US-China trade negotiations. Market experts said the Chinese macroeconomic data remains weak at the moment.