Indian shares advanced in the afternoon trade on Thursday, led by gains through realty and banking stocks. Losses in global markets and caution amid March-quarter earnings and general elections limited gains.

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At 12:00 PM, the BSE Sensex was up 122.04 points or 0.31 percent at 39,178.81, and the Nifty 50 gained 52.10 points or 0.44 points to 11,777.70.

Most sectoral indices traded higher led by realty, which was up over 0.83 percent followed by banks, and pharma indices. Metals, media and auto indexes were in the negative territory.

The key Nifty50 gainers included UltraTech, Grasim, YES Bank, BPCL and UPL, whereas Bharti Infratel, Vedanta, Eicher Motors, Zee Entertainment and ONGC were among the laggards.

YES Bank rose over 3 percent following reports that CEO Ravneet Gill is planning to replace entire top management of the bank.

Shares of UltraTech Cement jumps 6 percent after reporting strong results. Consolidated net profit rose 127.13% to Rs 1,013 crore while consolidated EBITDA surged 30 percent to Rs 2,353 crore this year from Rs 1,814 crore in the year-ago quarter.

Bharti Infratel slipped 3 percent after reporting earnings for the quarter ended March 2019. Furthermore, CLSA has downgraded the stock to ‘sell’ from ‘outperform’ and also slashed price target to Rs 285 from Rs 300 earlier, as tenancy outlook after March quarter earnings will remain muted.

Asia markets fell as concerns over a potential paring back of stimulus measures by the Chinese government weigh on investor sentiment.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.3% by the afternoon.

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