The stock market opened higher but pared gains as the session progressed.
The Sensex was up 150 points at 38,174, while the Nifty up 49 points at 11,477. The market breadth was negative with 674 shares advancing, 1,056 shares declining, and 372 remaining unchanged on the NSE.
In the realty space, the index surged nearly 3% led by gains in Prestige, Brigade, Godrej Properties, and Indiabulls Real Estate.
On the flip side, the Nifty Auto index dropped 1% amid selling pressure was seen in Maruti, Bharat Forge, and Hero Motocorp.
Shares of MindTree advanced 1% on the NSE as company board is scheduled to consider the buyback proposal on March 20.
Bharat Dynamics stock gained 1.5% after the company's board approved payment of first interim dividend for the Financial Year 2018-19 at Rs5.25 per share of the face value Rs10 each.
Volatility index India VIX was up 7.15% at 17.01.
IOC, HPCL, BPCL, and JSW Steel are trading higher, while Maruti, Wipro, Hero MotoCorp, and Bharti Airtel are trading lower on the NSE.
The most active stocks on NSE are Reliance Industries, Maruti, ICICI Bank, and HDFC Bank.