The Sensex gained 0.08 per cent, while the broader Nifty was up 0.1 per cent, in range-bound trading after the indexes slumped more than 2 per cent on Monday.
Dr.Reddy's Laboratories gained 1 per cent ahead of its January-March results later in the day.
Tata Steel's shares fell 2 per cent after the company said it would book a $1.6 billion impairment charge for the financial year ended March 31 due to weak economic and market conditions in Europe.
Investors are also on hold ahead of wholesale prices-based inflation data for April around noon.
WPI is expected to have risen 5.5 per cent on year in April, a Reuters poll shows, marking the slowest pace since November 2009. Core WPI is expected to have risen 3.5 per cent.
Copyright Thomson Reuters 2013