Benchmark indices were higher, even as global cues were quiet including the Asian markets. The Sensex was trading with gains of 155 points, while the Nifty was trading with gains of 55 points at 9.20 am.
Banking stocks were trading slightly weakish with Yes Bank seeing a drop of another 2 per cent in trade. This is the third successive day of losses for the stock.
Shares in Bandhan Bank gained almost 2 per cent after the Reserve Bank of India removed the restrictions imposed on Bandhan Bank 's managing director Chandra Shekhar Ghosh following the compliance on the promoter holding norm.
Zee Entertainment was trading marginally lower ahead of results to be declared later today. Auto and the IT pack were the best performing stocks in early trade.
Among the early Nifty gainers in trade were Tata Motors, NTPC, Wipro and Grasim. Among the losers were Tata Steel, HDFC Bank and IndusInd Bank.
Meanwhile, Asian markets were trading mixed, with the Korean Kospi and the Hong Kong's Hang among the gainers, while the Japanese Nikkei lost ground.