Markets opened the day flat after surging 1.66 per cent on Monday, with the Sensex up 50 points and the Nifty gaining 9 points in early trade.
Coal India was the top gainer rallying 3.65 per cent, after reporting a good set of numbers. Other index gainers included Hero Motor Corp, BPCL, HCL Tech, Bharti Airtel, Dr Reddy's Labs and Gas Authority of India.
Sun Pharma was trading higher ahead of its results to be declared later today. Nifty shares that lost ground in early trade were State Bank of India, Cipla, Grasim and ITC. Cement stocks were trading weak with notable losers from the space including ACC and Ambuja Cements.
Shares in Peninsula Land dropped after the company's Q4 net profit dropped quite sharply to Rs 35.8 crore vs Rs 82.8 crore.
Reliance Industries which gained more then 4 per cent on Monday following a new gas discovery was trading flat.
Tata Chemicals dropped after the company's Q4 numbers disappointed the markets. PSU banking stocks were trading marginally higher with notable gainers including Bank of Baroda, Andhra Bank and IDBI bank.
Realty stocks were having a good trading session with gainers from the space including HDIL, Sobha and Parsvnath. J K Tyre's shares rose despite the company's Q4 net profit dropping to Rs 33.7 Crore Vs Rs 86.3 Crore
Meanwhile, markets in Asia were trading higher following positive closings in the US. The Japanese Nikkei, the Hong Kong's Hang Sang and the Korean Kospi were higher in trade.