The Indian benchmark indices have erased its morning gains and is trading flat with the Sensex up 2 points at 37,693 while the Nifty is up 3 points at 11, 390 in the afternoon trade.
Nifty media is up 1 percent led by INOX Leisure which zoomed 10 percent while EROS International Media jumped close to 6 percent. TV Today, Network18, PVR, TV18 Broadcast and Zee Entertainment are the other gainers.
The auto index is also trading in the green with gains from Maruti Suzuki, Exide Industries, TVS Motor, Eicher Motors, Ashok Leyland and MRF.
The top NSE gainers included Asian Paints, Grasim Industries, Yes Bank, UltraTech Cement and Tata Steel which are up over 1 percent each.
The most active stocks are Axis Bank, HDFC AMC, State Bank of India, ICICI Bank and Infosys.
The top BSE gainers are Vakrangee which zoomed 18 percent followed by INOX Leisure, EROS International, Reliance Naval and Kwality.
The top BSE losers are Adani Power, Avanti Feeds, Adani Ports, Max Financial Services and IL&FS Transport.
Bata India, Dabur India, Havells India, Indiabulls Ventures, Mahindra & Mahindra, HOEC and Jubilant Foodworks are some of the stocks which have hit new 52-week high in the afternoon trade.
On the other hand, DEN Networks, Gammon Infra, Tejas Networks and Jyoti Structures are some of the stocks which have hit fresh 52-week low.
The breadth of the market favoured declines, with 782 stocks advancing, 928 declining and 358 remaining unchanged. On BSE, 1145 stocks advanced, 1359 declined and 123 remained unchanged.Disclosure
: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.