The NSE Nifty, after hitting a high of 10,758.55, closed at 10,717.80, up just 2.30 points, or 0.02 per cent.
"Sensex and Nifty traded higher for a second straight session on Tuesday, tracking gains in Asian shares, with a firm positive close from the U.S. markets", said Dhruv Desai, Director and Chief Operating Officer, Tradebulls.
At 9.22 a.m, the Sensex was trading up 105.40 points or 0.30% at 35,313.54 with 18 components gaining.
ICICI Bank had on Monday reported that its net profit for January-March nearly halved to Rs 1,020 crore.
The Sensex has so far touched a high of 35,061.56 and a low of 34,977.74 points. Shares in ICICI Bank, which had reported earnings the previous day, rose almost 7 per cent.
The 30 share index gained 180.73 points (0.51 percent) to 35388.87.
Asian markets closed mostly higher following firm leads from Wall Street overnight.
According to market analysts, heavy selling pressure in consumer durables and capital goods stocks trimmed the overall gains made earlier in the day's trade.
Mahindra & Mahindra and IndusInd Bank were the top losers in the Sensex index.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 97.15 crore, while the domestic institutional investors purchased stocks worth Rs 923.25 crore.
Investors fear that a rate hike in the United States could set off capital outflows from emerging market economies like India amid rising crude and falling rupee could affect the market sentiment.