Benchmark indices were trading marginally positive after seeing four successive days of losses. The Sensex was trading with a gain of 58 points, while the Nifty gained 18 points in trade. Leading the set of gainers from the Nifty were IT stocks like Wipro and TCS. HDFC Bank also was trading higher ahead of its share sale.
Banking stocks were mixed with Axis Bank seeing a huge surge of almost 3 per cent, while ICICI Bank was down 2 per cent in trade. Kotak Bank on the other hand was trading higher while, IndusInd Bank lost ground.
Cairn India and ONGC continued to decline as crude prices fell after Wednesday's sharp recovery. Texmaco was trading higher after the company reported a good set of numbers.
Mid cap stocks saw buying interest with Voltas, UPL and IFCI among the gainers. Real estate stocks continued to show a weakish trend and have been lower since the RBI maintained a status quo on interest rates.
Meanwhile, markets in Asia were trading mixed, though shares in China rallied after the Central Bank of China eased monetary policy further.