Key benchmark indices continued to alternately swing between positive and negative terrain near the flat line in mid-afternoon trade. India's broader NSE index inches up 0.14 percent, lead by gains in defensive stocks from pharmaceutical and IT sectors on caution ahead of key earnings including Tata Consultancy Services and Bajaj Auto due later in the day.
In healthcare shares, Lupin Ltd gains 2.3 percent while Cipla Ltd is up 1.8 percent.
Infosys Ltd gains 1.6 percent, Tech Mahindra rises 1 percent and TCS advances 0.1 percent.
Commodities from iron ore to copper and Brent crude will drop over the next five years as global supplies climb, according to Goldman Sachs Group, which highlighted oil's recent losses as a sign of increased output.
There will be substantial declines in some metals, energy and bulk commodities, analysts including Chief Currency Strategist Robin Brooks wrote in a report. The period of continued year-on-year price rises for most commodities is over, they said in the report.
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