Reliance Industries was up almost half per cent after the company said that it had won exploration blocks in Myanmar.
TCS which had witnessed a sharp fall on Wednesday recovered some lost ground and was trading marginally up after reports that the company had inked a deal with a leading Saudi based bank for core banking solutions.
Power Grid was the top Nifty gainer in trade rallying almost 2 per cent, while other gainers from the Nifty were Tata Power and Gas Authority of India.
Private sector banking stocks saw modest selling pressure in early trade with notable losers being IndusInd Bank, Yes Bank and Kotak Mahindra Bank.
PSU banking stocks, however continued to see buying interest with State Bank of India leading the gainers. Other notable winners were Indian Overseas Bank, Bank of Baroda and Bank of India.
Pharma stocks which saw selling pressure on Wednesday saw buying interest at lower levels with notable gainers being Glaxo Smithkline and Cadilla Health.
Nifty stocks that lost ground in trade were ONGC and Sesa Sterlite.
Meanwhile, most of Asia was trading with losses after weak closing across the US. The Japanese Nikkei lost 1 per cent, while the Hong Kong's Hang Sang was down more than 0.50 per cent.