The Sensex was trading higher by 56 points, while the Nifty gained 22 points in trade. Among the stars in early trade was HCL Tech which rallied more then 5 per cent following a spectacular set of results. Reliance which reported a mixed set of numbers late on Tuesday was trading with losses of 1 per cent.

Tata Consultancy Services which reports numbers after market hours today was trading with gains of almost 1 per cent.

Nifty losers in early trade were Sun Pharma, Hindustan Unilever and Kotak Mahindra. Crompton Greaves was trading firm after the company said it has secured a contract worth $60 million (about Rs 300 crore) from Iraq for the construction of four high voltage gas insulated substations.

Gail gained after the state-owned gas utility company plans to sell part of its 4.6 per cent stake in Hong Kong-listed, city gas distribution firm, China Gas Holdings.

Realty stocks were in the limelight with the index gaining 1 per cent. Gainers from the space were Anant Raj, HDIL, Indiabulls and Parsvnath.

Mahindra and Mahindra jumped 1 per cent after the company posted a 30 per cent growth in retail sales in the United States of America for FY-13 selling over 10,000 tractors.

Meanwhile, markets in Asia were trading higher led by strong gains in the Nikkei.

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