The Sensex was trading higher by 47 points, while the Nifty edged up higher by 12 points. Among the top gainers in trade were Ranbaxy, Sun Pharma, Mahindra and Mahindra and NMDC.

Early Nifty losers in trade were Reliance Industries, Wipro, Hindalco and Tata Steel. Software stocks were trading weak with Wipro and Tata Consultancy Services trading lower.

Banking stocks were having a mixed day in trade with Punjab national Bank, Yes Bank and Kotak Bank among the early losers.

Canara Bank continued to show smart gains and the stock was up once again in trade today. Bajaj Auto was trading up after reports that Bajaj Auto Employees Welfare Fund, a promoter entity of Bajaj Auto acquired large number of shares in the company.

Trent was trading lower despite reports that UK retailer Tesco Plc's planned to buy a 50 per cent stake in Tata group-owned Trent Hypermarket Ltd.

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

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