Key indices turned positive soon after opening lower on negative Asian stocks. At 9:28 IST, the barometer index, the S&P BSE Sensex, was up 44.41 points or 0.12% at 36,476.08. The Nifty 50 index was up 6.55 points or 0.06% at 10,958.25.

The S&P BSE Mid-Cap index was up 0.45%. The S&P BSE Small-Cap index was up 0.5%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 938 shares rose and 390 shares fell. A total of 71 shares were unchanged.

Overseas, Asian stock markets declined Friday as US stocks dropped overnight. US stocks closed sharply lower Thursday with investors rattled after the Federal Reserve's interest-rate policy and fresh concerns of a partial government shutdown undercut buying appetite.

Meanwhile, fears over a potential partial government shutdown intensified after reports that President Donald Trump told House Republicans he would refuse to sign an appropriations bill passed by the Senate that would avert a shutdown, unless both houses of Congress agree to appropriate $5 billion in extra funds for expansion of the US southern border wall.

On the macro front, the Federal Reserve Bank of Philadelphia released the results of its monthly regional survey of manufacturers, with the index showing a reading of 9.4, down from 12.9 in November.

Back home, Bharti Airtel gained 2.04%. Bharti Airtel's board approved sale of up to 59.18 crore equity shares, representing 32% stake of Bharti Infratel owned by the company to its arm Nettle Infrastructure Investments. After the deal, Bharti Airtel will own 18.33% stake in its Infratel arm and Nettle Infrastructure Investments and the public will hold 35.18% and 46.49%, respectively.

Further, the board formed and authorised 'special committee of directors for fund raising' to comprehensively explore/evaluate various options of fund-raising for the company to strengthen its capital structure and balance sheet and place the final recommendation before the board for its approval/final decision. Separately, the Bharti Airtel board Thursday named Badal Bagri as the company's new CFO, who will replace global CFO Nilanjan Roy, who has resigned. The announcements were made after market hours yesterday, 20 December 2018.

Coal India rose 0.08%. Coal India said that its board approved interim dividend of Rs 7.25 per share for the financial year 2018-2019. The record date is on 31 December 2018. The announcement was made after market hours yesterday, 20 December 2018.

Infosys fell 1.77%. Infosys announced that its board of directors has appointed Nilanjan Roy as Chief Financial Officer (CFO) of the company, effective 1 March 2019. Nilanjan Roy joins Infosys from Bharti Airtel where he holds the position of Global Chief Financial Officer. Jayesh Sanghrajka will resume his responsibilities as Deputy CFO, effective 1 March 2019. The announcement was made after market hours yesterday, 20 December 2018.