The BSE benchmark Sensex was up 20 points after opening lower on some buying in FMCG, Consumer Durables, Capital Goods and Power stocks and inflows from foreign funds.
However, there was selling in IT, Tech, Banking and PSU counters.
The BSE 30-stock index resumed higher at 17,478.16 but declined immediately to 17,423.45 due to profit-booking in view of weakness in global market.
However, it was up at 17,483 at 1015hrs on fresh buying, up 20.19 points or 0.12 % from its last close.
The NSE 50-share Nifty also up, 3.75 of 0.07 per cent to 5,306.30 at 1015 hours.
Major gainers were Cipla (1.49 %), Hind Unilever (0.98 %), BHEL (0.75 %), M&M (0.72 %) and ITC (0.56 %) while Bajaj Auto fell by (2.13 %), Dr Reddy Lab (1.22 %), ONGC (1.12 %) and NTPC (0.93 %).
Foreign institutional investors (FIIs) bought shares worth a net Rs 239.19 crore on Wednesday as per provisional data from the stock exchanges.
Asian stocks slipped in the early trade.
Key indices in China, Hong Kong, Indonesia, Japan, South Korea, and Taiwan fell by up to 1.19 pct while Singapore's Straits Times rose 0.02 %.