The Sensex and the Nifty opened the day flat with most of the stocks little changed over Wednesday's levels.
Coal India and Tata Motors were the top gainers in trade from the Nifty. IT stocks continued to see buying traction for the third straight day. Stocks like Infosys, TCS, HCL Tech and Wipro were trading higher.
Banking stocks were marginally in the negative with ICICI Bank, IndusInd Bank and Yes Bank trading with marginal losses.
Shares in Claris Lifesciences surged a huge 14 per cent on reports that Cadilla Healthcare was looking to buy the company.
Cadilla Healthcare was also trading higher by about 2 per cent. Midcap stocks were also seeing good traction with stocks like Britannia, IRB Infrastructure and Jindal Steel among the gainers. Shares in Manali Petrochemical were trading higher after the company said it plans to invest Rs 100 crore to triple capacity.
Meanwhile, markets across Asia were trading mixed with the Japanese Nikkei marginally higher, while the Hong Kong's Hang Sang and Seoul Composite were lower.