Among the index stocks that gained in early trade were Tata Motors, Tata Power and Hero Motor Corp. Banking stocks that came in for hammering in the last few trading session were trading mixed with ICICI Bank down marginally and State Bank of India trading higher by 0.40%.
Software shares were trading lower with Infosys, TCS and HCL Technologies all losing ground in trade today. Heavyweight Reliance Industries was ruling firm and was up marginally by 0.30% in early trade.
PSU banking stocks were trading mixed with Allahabad Bank, Indian Overseas Bank and Oriental Bank trading positive, while IDBI bank and Canara Bank lost ground.
Among non index stocks Ind Swift Labs gained almost 14% today on reports that Piramal Health is planning to buy the company's contract research and manufacturing facilities.
Meanwhile, markets in Asia were mostly trading in the negative except the Straits Times which was trading marginally higher.
Markets are expected to remain steady and eye the outcome of an ECB meet slated for Thursday. Any disappointment from the ECB in terms of stimulus measures could lead to sharp fall in stocks across the globe.