Key benchmark indices were trading higher in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 233.83 points or 0.64% at 36,850.64. The Nifty 50 index was up 64.10 points or 0.59% at 10,998.45.

Among secondary barometers, the BSE Mid-Cap index was up 0.10%. The BSE Small-Cap index was up 0.12%.

The market breadth, indicating the overall health of the market, was positive. On BSE, 649 shares rose and 478 shares fell. A total of 52 shares were unchanged.

Overseas, Japan's benchmark Nikkei 225 was trading higher. China and several other markets in the region are closed for the Lunar New Year holiday.

US stocks closed higher Tuesday, as investors continued to sort through corporate earnings while awaiting President Donald Trump's State of the Union address in the evening.

President Donald Trump called for unity in his opening remarks at his second State of the Union address, and promised to lay out the agenda of the American people. Trump added that he wants a US immigration system that is safe, lawful, modern and secure as he seeks funding for a border wall rejected by Democrats.

Back home, HPCL was up 3.04%. The company's net profit dropped 87.3% to Rs 247.55 crore on 25.12% rise in total income to Rs 72505.50 crore in Q3 December 2018 over Q3 December 2017. The announcement was made after market hours yesterday, 5 February 2019.

HCL Technologies (HCL) was up 1.70%. The company has partnered with Harris Geospatial Solutions Inc., a subsidiary of Harris Corporation (HRS), to provide an Al driven, remote sensing data analytics system for its utilities customers. The system will allow utilities to have a more active, controlled view of information through the use of remote sensing systems, which includes Unmanned Aircraft Systems (UAS), manned aircraft, and space-borne data sources. The announcement was made after market hours yesterday, 5 February 2019.

NBCC (India) was down 0.65%. The company said it has secured the total business of Rs 355.90 crore in January 2019. The announcement was made after market hours yesterday, 5 February 2019.

Century Plyboards (India) was up 1.01%. The board of directors of Century Plyboards (India) approved a proposal for setting-up a particle board and MDF unit at Uttar Pradesh. The announcement was made after market hours yesterday, 5 February 2019.

Adani Green Energy (AGEL) was up 0.60%. Adani Renewable Energy (AREKAL), a wholly-owned subsidiary of AGEL, has commissioned 12 MWac Wind Power Project on 4 February 2019 in Gujarat. The announcement was made after market hours yesterday, 5 February 2019.