Key equity indices were firm, but in thin trade because of the ongoing holiday season. The 30-share Sensex was up 58 points at 19300, and the Nifty was up 15 points at 5862.
Sun Pharma, Infosys and Bajaj Auto led early gainers in the Sensex, up 1-2 percent. Madras Cements, DB realty and India Infoline were the midcap leaders, rising 3-5 percent.
Lanco Infratech shares were up 7 percent on a report in The Economic Times that the company was talks with JSW Energy and Adani Power to sell a power plant in Karnataka to raise cash and ease its debt burden.
With a 25 percent rise in key indices so far this calendar, India has been among the best performing markets globally.
Sentiment has improved considerably over the last couple of months, but brokers feel liquidity more than fundamentals will be the driving force near term.
ADS BY GOOGLE
video of the day
Industrial recovery still away; like construction: HSBC