Benchmark indices were witnessing a quite day in early trade, after Tuesday's carnage. The Sensex was trading with gains of 26 points, while the Nifty was trading with gains of 12 points.

The rupee too was trading higher by 18 paise at 72.25 to the US dollar. Shares in Varun Beverages jumped, after the company fixed the QIP at Rs 644.08.

Shares in VST Tillers and Tractors was higher, thanks to a good surge in tractor volume. Power Tillers sales fell 13 percent to 1,437 units, while tactors sales jumped 57 percent to 813 units.

Most steel stocks were trading with losses after India Ratings cuts its demand growth for steel in India. PSU banking stocks continued to trend lower for the second straight day with most of the anchor banking, whose merger was announced with the smaller banks lost ground. Union Bank and Canara Bank were both trading flat in early morning trades.

Meanwhile, most Asian markets were trading in the positive, including the Hong Kong's Hang Sang and the Shanghai Composite.

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