Benchmark indices opened the day higher, even as global cues were soft, as crude prices continued to decline.
The Sensex was trading with gains of 143 points, following gains in select heavyweight stocks like HDFC Bank and Reliance Industries.
Most of the Asian markets were also seeing strong gains, and Dow Futures were pointing to higher openings. The Japanese Nikkei and the Hong Kong's Hang Sang were up about 1 per cent in trade. Declining crude prices also helped sentiments.
Shares in Zee Entertainment fell sharply, after the company reported a 37.9 per cent drop in net profits. The stock was down almost 1 per cent in trade.
ONGC was seeing slight weakness in trade, following a drop in crude prices. Shares in HDFC AMC gained after the company reported a sharp jump in net profits.
Among the Nifty losers were Power Grid, Coal India and NTPC. Among the gainers were Bharti Airtel, Vedanta and Bharti Infratel.
Meanwhile, the rupee was trading flat at 71.85 to the dollar, marginally higher by 3 paise.