Benchmark indices opened on a positive note Wednesday on sustained foreign fund inflow ahead of March derivatives expiry.
However, gains were capped as Asian shares fell across the board in line with overnight drop in US stocks. Rising crude oil prices too worried investors.
The 30-share Sensex was trading 80.70 points, or 0.21 per cent, higher at 38,444.17. The gauge had gained nearly 1,500 points in the previous seven sessions.
Similarly, the NSE Nifty rose 11.35 points, to 11,543.75. Infosys, Vedanta, HCL Tech, L&T, Sun Pharma, Axis Bank and TCS were trading in the green.
While, top losers were ONGC, NTPC, Coal India, Kotak Bank, SBI, M&M, IndusInd Bank, ICICI Bank, Yes Bank, Hero MotoCorp, TataMotors, Asian Paint, PowerGrid and ITC Ltd, falling up to 1.69 per cent.
Sectoral indices led by oil and gas, PSU, auto, bankex, power and consumer durables were trading in the negative zone, falling up to 1.22 per cent.
Brokers said sentiment was bullish on strong buying by foreign institutional investors (FIIs), but subdued overseas cues and emergence profit-booking at existing higher levels capped the gains.