Reuters Market Eye - The BSE Sensex and the Nifty are trading up around 0.3 percent each, heading towards their first gain this year after five straight days of falls.
Export-driven IT and pharmaceutical shares gain on expectations a weaker rupee and healthier overseas markets will boost earnings.
Tata Consultancy Services gains 1.24 percent, while Infosys is down 0.8 percent on caution ahead of its Oct-Dec earnings on Friday.
Sun Pharmaceutical Industries gains 1.5 percent, while Cadila Healthcare is up 4.8 percent.
However, concerns remain about foreign flows after overseas investors sold 13.29 billion rupees worth of index futures on Tuesday, leading to total sales of 23.34 billion rupees over the previous three sessions, according to exchange data.
(Reporting by Abhishek Vishnoi)