Benchmark indices opened the day higher as Asian markets recovered after China growth spooked global markets on Monday.
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Leading the pack of gainers in trade today from the Nifty were stocks like Yes Bank (up 4%), ICICI Bank (up 2.36%) and Cairn India (up 3%).
IT and Pharma were trading flat after the rupee recovered marginally against the dollar. Banking stocks which plunged in trade on Monday saw some recovery. Among the stocks that gained were Canara Bank, State Bank and Kotak Mahindra Bank.
The Mid cap index which had fallen a huge 9 per cent in trade on Monday, was trading higher. Century Textiles was up 15 per cent, while CESC was up 4 per cent in early trade.
Metal stocks like Hindalco, Vedanta and Tata Steel which plunged to 52-week low on Monday recovered lost ground and were trading higher.
South Indian Bank, which was included in the Mid Cap index was trading with gains. Meanwhile, the rupee recovered ground and was trading with gains of 10 paise at 66.56 to the dollar.