The BSE Sensex and Nifty were flat in trade. Likely candidates for banking licences gain a day after RBI Deputy Governor Anand Sinha told television news channels the RBI will issue final guidelines on new bank licences before the end of March.
The guidelines had been expected, and dealers say the comments confirm there won't be any significant delays.
Among these candidates, IFCI Ltd shares gain 2.8 percent, Mahindra and Mahindra Financial Services Ltd rises 0.6 percent at 11:53 a.m.
However, mobile operators fall after wireless broadband airwave holders were allowed to provide voice services by paying additional fee, a move that is seen benefiting 4G licence holder Reliance Industries Ltd , but leading to more competition in the sector.
Bharti Airtel Ltd shares fall 2 percent, Idea Cellular Ltd is down 1.5 percent.