Benchmark indices gained ground in early trade as global cues remained strong, despite a slight decline in oil prices. The Sensex was trading with gains of 102 points, while the Nifty was trading with gains of 21 points in early trade.
Jindal Steel which saw a jump of 6 per cent in trade on Monday was trading higher once again. SpiceJet jumped once again in trade after co-founder Ajay Singh said he needed more time to rescue the cash strapped airline.
Cairn India lost ground after oil prices continued to slump in early trade. ONGC too lost ground after oil prices slipped in trade.
Mid cap stocks were also trading higher with Havells and Mcleod among the gainers.
HCL Tech lost ground in early trade after the company warned that its margins could be lower.
Meanwhile, markets in Asia were trading marginally higher led by gains in the Straits Times and Jakarta Composite.