Key barometers traded near intraday high in early afternoon trade. The Nifty was trading above 11850 mark. At 12:25 IST, the barometer index, the S&P BSE Sensex, was up 274.32 points or 0.70% at 39,668.96. The Nifty 50 index was up 72.35 points or 0.61% at 11,861.80.

The S&P BSE Mid-Cap index was up 0.35%. The S&P BSE Small-Cap index was up 0.30%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1161 shares rose and 1038 shares fell. A total of 151 shares were unchanged.

Metal stocks gained. Hindustan Copper (up 1.13%), Hindustan Zinc (up 1.09%), NMDC (up 0.62%), Hindalco Industries (up 0.53%) Tata Steel (up 0.27%) and National Aluminium Company (up 0.01%) edged higher. Jindal Steel & Power (down 1.06%), Steel Authority of India (down 0.39%) and Vedanta (down 0.34%) edged lower.

Commercial vehicles maker Ashok Leyland was up 0.34% to Rs 87.55. The company's total vehicles sales fell 19% to 12810 units in June 2019 over June 2018.

Reliance Infrastructure slumped 7.57% to Rs 51.3 after Brickwork Ratings downgraded the rating of bank loan facilities of the company from 'BWR C' to 'BWR D'. The revision in the rating is primarily due to the deterioration in the credit risk profile and weakening of the financial servicing profile of the company.

Reliance Capital was down 5.59% to Rs 62.45 after the company deferred the declaration of Q4 results.

Mahanagar Gas was down 2.75% to Rs 825.65. The company reportedly hiked the prices of compressed natural gas (CNG) and domestic piped natural gas (PNG) in Mumbai and surrounding areas from today by Rs 0.32 paise/kg and Rs 0.23 paise/standard cubic meter, respectively.

Balkrishna Industries was up 3.03% to Rs 779.15 after the company announced that it commenced the trial production of Phase 1 of our Carbon Black project with capacity of 60,000 metric tonne per annum at Bhuj Plant in Gujarat from Friday, 28 June 2018.

Shares of IT companies were mixed. Shares of IT companies were mixed. Hexaware Technologies (up 1.2%), Oracle Financial Services Software (up 0.88%), Persistent Systems (up 0.42%), Wipro (up 0.32%), TCS (up 0.21%), MindTree (up 0.2%) and Infosys (up 0.05%) edged higher. Mphasis (down 1.65%), HCL Technologies (down 0.66%) and Tech Mahindra (down 0.04%) declined.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 68.9475, compared with its close of 69.030 during the previous trading session.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 1.47% at 14.7325.

On the options front, Nifty option chain for 25 July 2019 expiry showed a maximum call open interest (OI) of 14.82 lakh contracts at the 12,000 strike price. Maximum put OI of 16.04 lakh contracts was seen at 11,500 strike price. Options data suggested a trading range for Nifty will be between 11,500 and 12,000.

On the economic front, the Indian manufacturing sector lost growth momentum in June, following an acceleration in May. The IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 52.10 in June, down from May's three-month high of 52.70 but still signalling an improvement in operating conditions across the sector. A reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)