At 14:19 IST, the barometer index, the S&P BSE Sensex, was up 66.23 points or 0.20% at 32,989.35.
THE BSE Sensex on Friday dived nearly 510 points - its biggest single-day fall since Feb 6 - to close at 33,176 due to a major sell-off amid global trade worries and political concerns after the TDP quit the NDA and moved a no-confidence notice against the Government. It had lost 994.82 in the previous five sessions. Meanwhile, the Nifty was trading higher by 33.70 points or 0.33% at 10,127.95.
Among sectoral and industry indices, IT dipped by 0.69 per cent followed by metal 0.56 per cent, capital goods 0.52 per cent, oil and gas 0.37 per cent, teck 0.23 per cent, auto 0.19 per cent and realty 0.07 per cent, while consumer durables rose by 2.05 per cent, IPO 1.50 per cent, bankex 0.96 per cent, healthcare 0.42 per cent, FMCG 0.19 per cent and power 0.13 per cent. Markets benefited from value buying in beaten-down stocks and a mixed trend overseas, as investors focused on new Federal Reserve Chairman Jerome Powell's first policy meeting starting later in the day amid trade war concerns, broker said.
Major gainers were Tata Steel, Sun Pharma, Adani Ports, Wipro, SBI and Dr Reddy, rising up to 4 per cent.
Investors are keeping a close watch on the Federal Reserve's policy meeting this week looking for clues about its timetable for tightening monetary policy.
However, it turned positive later to trade 0.13 percent higher at 32965.4. Opinion is split on the number of rate hikes it will likely announce this year, with some forecasting three and others saying four. In Europe, Frankfurt's DAX inched up 0.19%, while Paris CAC 40 rose 0.26% in their early deals.
Equity markets in Tuesday's early trade got off to a choppy start as Sensex dipped nearly 100 points before paring the losses.
The Dow Jones Industrial Average fell as much as 425 during the session and ended won 335.60 points, or 1.35 percent, at 24,610.91. Both Sensex and Nifty lost 50 points to open at 32,876.48 and 10,051.55, respectively. Global equities are on their worst run since November.