The Sensex was trading at 17,440 points, higher by 48 points. The Nifty was seen trading higher by 13 points at 5,288 points at 9.35 am IST.

In Asia, Japan's Nikkei 225 slipped 0.16%, China's Shanghai Composite was down by 0.53%, while the Hang Seng index was lower by 0.26%.

On Monday, the Sensex tanked more than 125 points as investors across the world worried over the fast fading fortunes of the global economy.

Among the shares that gained ground in morning trade were Jaiprakash Associates, Asian paints, Coal India and Tata Motors.
Stocks that failed to lure investors in early trade were Tata Powers, IDFC, ITC and Grasim.

Investors were cautious ahead of the IIP and inflation numbers due later this week, that are expected to determine the course of the RBI action in the near-term.

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