Benchmark indices opened the day higher led by a solid rally in Reliance Industries after the company reported a superb set of Q2 numbers.
The Sensex was trading higher by 73 points, while the Nifty rallied 15 points in trade. Asian cues were mixed with China gaining after better than expected GDP numbers, while other Asian markets like Hong Kong and Japanese Nikkei were trading lower.
Shares in South Indian Bank gained ground after the bank reported better than expected quarterly numbers.
Tata Motors, which has been seeing a spectacular rally in the last few trading sessions lost ground and was down 1 per cent.
Shares in Infosys gained more than one per cent, while TCS and Wipro were also trading higher. Banking shares were trading mixed with ICICI Bank and HDFC Bank lower, while State Bank of India was trading with gains.
Midcap stocks were also higher with Exide and GE Shipping seeing solid gains in trade.
Meanwhile, the rupee was trading firm at 64.74 to the US dollar.