NEW DELHI: Broader midcap and smallcap indices were outperforming benchmarks in Thursday's afternoon trading session.

BSE Midcap index was 0.38 per cent up at 15,249, while BSE Smallcap index was 0.31 per cent up at 15,846 around 1.04 pm (IST).

Benchmark Sensex was 0.13 per cent down at 31,119 and Nifty50 index was 0.32 per cent down at 9,705 around the same time.

In the midcap index, Bajaj Holdings & Investment, UBL, Nalco and Kansai Nerolac Paints gained over 3 per cent.

On the other hand, Ruchi Soya Industries, Camlin Fine Sciences, Majesco, Fineotex Chemical and Indo Count Industries gained over 6 per cent in the smallcap index.

Sensex and Nifty turned volatile after a short spell of mild gains. Profits in pharma, metal, FMCG and realty stocks were offset by losses in IT, bank and auto stocks.

Dr Reddy's continued its bullish run, with gains of nearly 5 per cent. As per PTI, shares of the company got traction after the company said it has received an establishment inspection report (EIR) from the US health regulator for a unit at its Srikakulam formulations facility in Andhra Pradesh.

Asian Paints, ICICI Bank, Bharti Airtel and Reliance slipped over 1 per cent in the Sensex index.

On the NSE, 905 stocks were advancing, compared with 715 stocks declining and 343 stocks remaining unchanged.

On BSE, 1,357 stocks were advancing whereas 966 stocks were lagging and 156 stocks were appearing unchanged.

For trending stocks and buzzing news, track this LIVE BLOG from Dalal Street