The benchmarks were taken in a narrow band with a positive bias due to lack of conviction by investors at current levels. Gains in consumer products, real estate and oil and gas space can compensate for the loss of pharmaceutical products, capital goods and automotive.
"The Prime Minister on Friday reaffirmed what we all know too well that inflation caused by" a serious threat to the growth rate. "Investors cautious in taking a strong pressure, even though many indicators seem interesting. Stick to large caps, if you decide to do some shopping. Meanwhile, the RBI deputy director Subir Gokarn said the crisis on the Egyptian actions RBI" said IIFL report.
At 12 pm: The Bombay Stock Exchange Sensex was at 18066.89, up 58.74 points or 0.33 percent. The 30-share index touched a low of 17,995.45 and 18,135.02 upscale trade so far.
National Stock Exchange Nifty was at 5408.35, up 12.60 points or 0.23 percent. The 50-share index touched a low of 5385.10 and 5431.50 intraday high.
 BSE Midcap Index fell 0.29 per cent and BSE SmallCap Index edged 0.45 percent lower.
Among the sectoral indices, BSE FMCG index advanced 1.27per cent, BSE Realty Index gained 1.19 per cent and BSE Oil & Gas Index moved 0.55 percent higher. BSE Healthcare Index was down 1.26 per cent and BSE Capital Goods Index was down 0.53 percent higher.

Sensex Gainers included Hero Honda (3.46%), ITC (2.09%), HDFC Bank (1.87%), Bharti Airtel (1.87%) and Jaiprakash Associates (1.62%).
 Cipla (-2.99%), Hindalco (-2.13%), Tata Motors (-1.87%), Wipro (-1.69%) and L & T (-1.28%) were the best losers.
Market breadth was negative on BSE in 1427 declines against 1178 advances.