Key equity benchmarks bounced back in early afternoon trade. The Nifty moved towards the 11,700 mark. At 12:22 IST, the barometer index, the S&P BSE Sensex, was up 15.43 points or 0.04% at 39,313.81. The Nifty 50 index was up 29.40 points or 0.17% at 11,681.70.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index was up 0.61%. The S&P BSE Small-Cap index rose 0.78%.

The market breadth was tilted in favour of buyers. On the BSE, 1281 shares rose and 985 shares fell. A total of 170 shares were unchanged.

On the derivatives front, the NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 4.03% to 16.57. The Nifty October 2019 futures were trading at 11,697.75, a premium of 16.05 points compared with the spot at 11,681.70.

On the options front, the Nifty option chain for 31 October 2019 expiry showed maximum call open interest (OI) of 23.50 lakh contracts at the 12,000 strike price. Maximum put OI of 28.97 lakh contracts was seen at 11,000 strike price. The option chain indicates that Nifty will stay between 11,000 and 12,000 in October expiry.

The Nifty Bank index was up 0.21% at 2,461.25, extending gains for third consecutive session. The index has risen 2.03% in two trading sessions to end at 29,120.25 on 18 October 2019 from its recent closing low of 28,538.80 on 16 October 2019.

Shares of public sector banks were in demand. Indian Bank (up 4.48%), Corporation Bank (up 3.17%), Union Bank of India (up 2.88%), United Bank of India (up 2.88%), Punjab & Sind Bank (up 2.83%), Bank of India (up 2.81%), Bank of Maharashtra (up 2.77%), Canara Bank (up 2.7%), Bank of Baroda (up 2.17%), Punjab National Bank (up 1.99%), Allahabad Bank (up 1.95%), Central Bank of India (up 1.73%), IDBI Bank (up 1.3%), State Bank of India (up 1.3%), Andhra Bank (up 1.23%), Syndicate Bank (up 1%) and UCO Bank (up 0.84%) edged higher.

Most private bank share advanced. Yes Bank (up 7.39%), ICICI Bank (up 2.8%), Axis Bank (up 1.63%), Federal Bank (up 0.54%), IndusInd Bank (up 0.03%) edged higher.

City Union Bank (down 2.38%) and RBL Bank (down 2.25%) edged lower.

Kotak Mahindra Bank fell 0.15%, ahead of its Q2 September 2019 results today.

HDFC Bank rose 1.40% to Rs 1246.40. The bank's net profit rose 26.75% to Rs 6,344.99 crore on 19.63% increase in total income to Rs 33755 crore in Q2 September 2019 over Q2 September 2018. The result was announced on Saturday, 19 October 2019.

The bank's gross non-performing assets (NPAs) stood at Rs 12508.15 crore as on 30 September 2019 as against Rs 11768.95 crore as on 30 June 2019 and Rs 10097.73 crore as on 30 September 2018.

AU Small Finance Bank added 4.22% to trade at Rs 681.90. The bank's net profit rose 88.1% to Rs 171.94 crore on a 46.9% increase in total income to Rs 1184.21 crore in Q2 September 2019 over Q2 September 2018. The result was announced on Monday, 21 October 2019.

The bank's gross non-performing assets (NPAs) stood at Rs 503.84 crore as on 30 September 2019 as against Rs 485.70 crore as on 30 June 2019 and Rs 371.04 crore as on 30 September 2018.

DCB Bank fell 3.47% to Rs 175. The bank's net profit rose 24.5% to Rs 91.41 crore on a 21.2% increase in total income to Rs 980.59 crore in Q2 September 2019 over Q2 September 2018. The result was announced on Saturday, 19 October 2019.

The bank's gross non-performing assets (NPAs) stood at Rs 523.24 crore as on 30 September 2019 as against Rs 476.40 crore as on 30 June 2019 and Rs 409.98 crore as on 30 September 2018.

Dalmia Bharat fell 0.33% to Rs 812.75. On a consolidated basis, the conglomerate reported a net profit of Rs 27 crore in Q2 September 2019 over a net loss of Rs 1 crore in Q2 September 2018. Net sales rose 6.5% to Rs 2236 crore in Q2 September 2019 over Q2 September 2018. Dalmia Bharat has its presence in cement, sugar, refractories & power manufacturing. The result was announced on Saturday, 19 October 2019.

Bhansali Engineering Polymers (BEPL) rose 1.98% to trade at Rs 51.40. On a consolidated basis, the petrochemical manufacturing company's net profit rose 18% to Rs 20.37 crore on a 20.1% decline in net sales to Rs 279.54 crore in Q2 September 2019 over Q2 September 2018. The result was announced on Saturday, 19 October 2019.

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