The benchmark Nifty was positive in opening trade and jumped above 5450 but profit booking in some heavyweights and weak Shanghai wiped out some early gains. The markets already discounted global markets' rally in Monday's trade.

At 9:01 hours IST, the Sensex was trading at 18131, up 50 points and the Nifty was at 5443, up 12 points. The CNX Midcap rose 30 points to 8529. About 654 shares advanced while 181 shares declined on NSE.

Among the frontliners, ICICI Bank, Kotak Mahindra Bank, PNB, GAIL, Wipro, DLF, Maruti, Jaiprakash Associates, Tata Motors, SAIL, Hero Honda, TCS and Hindalco were gainers in early trade.

However, ITC (ex-bonus today), Idea Cellular, Ambuja Cements, ACC, Reliance Communications, Reliance Power, Reliance Infrastructure and RNRL were under pressure.