The S&P BSE Sensex was trading higher at 25,151, a gain of about 106 points or 0.43% at 1.05 pm on Monday, after opening at a loss of 100 points and breaking the 24,000 mark, tracking Asian markets, concerns over falling crude oil prices and waiting for the US Fed decision on rate hike.
Tata Steel, Hindustan Uniliver, Coal India, Sun Pharma, Maruti Suzuki and Infosys were trading with gains, while Tata Motors, Bharti Airtel, ONGC and TCS were losers.
Infosys was up 1.41% at Rs 1,067 on news of its $3 million in Whoop, an early stage company that offers performance optimisation systems for elite professional sporting teams. In a regulatory filing to the BSE, the Bengaluru-based company said that the deal will be completed by 16 December, 2015. Infosys will have a minority stake that won't exceed 20% in Whoop Inc.
In a related development, Infosys said that it will be announcing its third quarter results on 14 January, 2016.
Asian stock markets were also trading lower, with the Nikkei down 1.8% in the afternoon trade, recovering from a loss of 3% in early morning trade.
Meanwhile, falling crude oil prices due to a glut could influence the decision of the US Fed later this week when it meets to decide on a likely interest rate hike.
"Lower crude oil prices will encourage deflationary conditions and interestingly, not only may it lead to further stimulus in Eurozone but also it will be one of the major point of discussion during the Fed meeting as inflation is inversely proportional to interest rates - which may lead to Fed rethink on adopting a hawkish policy," an analyst wrote in Business Today.
