Benchmark indices opened the day higher due to strong global cues ahead of expiry for the F&O series. The Sensex was trading with gains of 90 points, while the Nifty rallied 30 points in trade.
Tech Mahindra which dropped a huge 14 per cent in trade on Wednesday recovered some lost ground and was trading one per cent higher. Infosys which also fell yesterday saw some buying interest and was trading higher.
Banking stocks were mixed ahead of the RBI's credit policy next week. Axis Bank, Kotak Mahindra and Federal Bank may be among the gainers.
However, a few stocks like State Bank of India and Canara Bank lost ground in trade.
The mid cap index was also trading almost flat with Godrej Industries surging a huge 5 per cent in trade. Wockhardt which had rallied substantially in trade on Wednesday gave up some gains.
Meanwhile, Asian markets were trading mixed. The Japanese market rallied on a weaker Yen, while the Shanghai Composite and the Hong Kong's Hang Sang lost ground and gave up gains seen on Wednesday.