The NSE Nifty 50 index was up 0.46% at 17,170.40 0350 GMT, while the S&P BSE Sensex was up 0.44% at 57,551.03, with most major Nifty sub-indices up.
Mumbai, the Nifty Realty Index and the Nifty Public Sector Bank Index were the main gainers, rising more than 1% each.
In the broader Asian market, equities stabilized and demand for safe-haven assets fell slightly as investors valued Russian troop movements near Ukraine and early Western sanctions. [MKTS/GLOB]
Oil prices also caught their breath after hitting seven-year highs as it became clear that the first wave of US and EU sanctions against Russia would not disrupt oil supplies. [O/R]
Western nations on Tuesday imposed new sanctions on Russia for sending troops into two breakaway regions in eastern Ukraine, and threatened to go further if Moscow launched a full invasion of its neighbor.