Key indices oscillated near the day's high in early afternoon trade. The Nifty struggled to breach the 11,150 mark and traded a tad below that level. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 312.73 points or 0.84% at 37,663.06. The Nifty 50 index was up 86.75 points or 0.79% at 11,134.55.

The market breadth was positive. On the BSE, 1231 shares rose and 936 shares fell. A total of 136 shares were unchanged. In the broader market, the S&P BSE Mid-Cap index was up 0.54%. The S&P BSE Small-Cap index was up 0.59%. Both these indices lagged the Sensex's rise in percentage terms.

Dewan Housing Finance (DHFL) jumped on reports that its lenders have agreed on a 3-level resolution plan that includes conversion of debt to equity and issuance of nonconvertible debentures. These steps will reportedly give creditors majority stake in the embattled financier and help resume stalled credit lines.

DHFL, meanwhile, announced that it will announce its Q1 earnings by 14 September 2019. The stock was trading 10.13% higher at Rs 50.55.

Jammu & Kashmir Bank fell 3.04% to Rs 36.65 after the Anti-Corruption Bureau (ACB) investigation reported irregularities in board approvals. As per reports, the case has been registered in a bank-loan fraud worth Rs 350 crore, and searches have been conducted at the Bengaluru office of the bank. The ACB has reportedly said that the management at the corporate headquarters/zonal office, Bengaluru, and officers/officials of J&K Bank, Infantry Road Branch, Bengaluru, had given loans worth crores of rupees to Rawther Spices by passing all norms and procedures.

The ACB investigation and verification procedures have reportedly found that Rawther Spices was established in 1985 and was dealing in import and export of spices and coffee. In 2002, the company was sanctioned a loan of Rs 2 crore against collateral security of three properties valued at Rs 10 crore by J&K Bank. Since 2012, the limits of different types of loans had been increased by the bank significantly and the total loan amount has risen up to Rs 308.13 crore in 2015 against increased mortgage/security value to Rs 147.43 crore.

Pharma major, Glenmark Pharmaceuticals announced that the company has received approval for Remogliflozin Etabonate and Metformin Hydrochloride for adults with type 2 diabetes in India. The drug is indicated in the treatment of type‐2 diabetes mellitus in adults. The company reported that it will sell tablets under the brand names ‘Remo‐M' and ‘Remozen‐M'. Shares of Glenmark Pharma were trading 1.72% higher at Rs 367.30.

Titan Company announced that the company has purchased 9,45,000 shares of Carat Lane Trading, a subsidiary of the company. Titan has increased the stake in Carat Lane Trading by 2.8% to 72.3%. The announcement of acquisition was made after market hours on Friday, 16 August 2019. The stock was trading higher by 1.13% at Rs 1087.95.

On the derivatives front, the NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 2.29% at 16.265.

The Nifty August 2019 futures were trading at at 11,139.8, a premium of 7.25 points compared with the spot at 11,132.55. State Bank of India, HDFC and Axis Bank were the top traded individual stock futures contracts so far in F&O segment of NSE.

On the options front, the Nifty option chain for 29 August 2019 expiry showed maximum call open interest (OI) of 26.16 lakh contracts at the 11,500 strike price. Maximum put OI of 42.29 lakh contracts was seen at 11,000 strike price. The option data suggest a trading range between 11000 and 11500 for Nifty in the month of August.