Software stocks were in the limelight after Cognizant reported better then expected numbers. Infosys, TCS and Wipro all gained in early trade.
PSU banking stocks continued to rally once again in trade with Syndicate Bank, Andhra Bank, Indian Overseas Bank and IDBI Bank among the gainers.
Nifty stocks that rallied in trade today were BPCL, DLF, Cipla and Maruti. On the other hand Nifty stocks that lost ground were Bajaj Auto, Punjab National Bank, Tata Steel and Sun Pharma.
Bharti Airtel lost ground in early trade after reports that the CEO Manoj Kohli had sold some shares in the company.
Bharat Heavy was trading marginally weak ahead of its results to be declared later today.
Heavyweight, ITC was trading lower, while Reliance Industries was trading higher for a second day in a row.
The Mid Cap index was trading with gains once again today with stocks like JSW Energy, Jain Irrigation and Unitech among the early gainers.
Meanwhile, Asian markets were trading flat to negative following better then expected US economic data.