The Sensex was trading higher by 82 points in early trade, while the Nifty was trading 19 points higher. Among the gainers in trade were Jaiprakash Associates, GAIL, Lupin and Tata Motors.
HDFC Ltd was trading 0.62 per cent higher ahead of its results to be declared later today. The company is expected to report a jump of 14 per cent in net profits.
Ranbaxy was trading marginally lower ahead of its results later today. The stock was down 0.70 per cent.
Mineral and mining company NMDC was trading higher after reports that the company was examining mining assets in a African country.
Wipro was trading marginally higher after the software exporter said it is investing $30 million for a minority stake in New Jersey headquartered big data analytics firm, Opera Solutions.
UCO Bank dropped almost 6 per cent after the company reported a poor set of numbers. Allahabad Bank which reported numbers on Tuesday continued to drop for a second day in a row.
Real estate stocks continued to see buying interest with prominent gainers from the space being Sobha Developers, HDIL and Parsvnath.
The Mid Cap index was trading flat with gainers from the index including CESC, IFCI, Indian Hotels, Sun TV and Syndicate Bank.
Meanwhile, markets in Asia were trading higher after the S&P hit a new lifetime high on Tuesday. The Chinese Shanghai Composite, the Honk Kong's Hang Sang and the Korean Kospi were all trading higher.