Key equity indices bounced between gains and losses during early hours on Monday with some auto stocks taking a hit.
At 10:15 am, the BSE S&P Sensex was up by 220 points or 0.43 per cent at 51,643 while the Nifty 50 gained by 48 points or 0.31 per cent to 15,484.
Sectoral indices at the National Stock Exchange were mixed with Nifty pharma moving up by 0.9 per cent, FMCG by 0.7 per cent and realty by 0.5 per cent. But Nifty auto fell by 0.8 per cent.
Among stocks, Divi's Labs gained by 3.1 per cent to Rs 4,249 per share on strong corporate results for Q4 FY21. Index heavyweight Reliance Industries was up by 1.6 per cent to Rs 2,128.60.
ITC, Nestle India, ICICI Bank, Bharti Airtel, Grasim and Dr Reddy's too traded in the positive terrain.
However, Mahindra & Mahindra skidded by 5.7 per cent and Tata Motors by 1 per cent. The other laggards were Tech Mahindra, Adani Ports, Wipro, IndusInd Bank and HDFC Bank.
Meanwhile, Asian shares were trying to extend their recent rally to a third week in the hope US jobs figures show the expected revival in hiring in May and keep the global recovery on track.
MSCI's broadest index of Asia Pacific shares outside Japan added 0.3 per cent after having rallied 2.2 per cent last week. Japan's Nikkei fell 0.7 per cent.