Markets opened the day steady ahead of the RBI's Monetary policy due later today. The Sensex was trading higher by 79 points, while the Nifty gained 23 points in trade.
Banking stocks which are likely to remain volatile were trading mixed ahead of the policy meeting. Among the banking stocks that rallied in trade were IndusInd Bank, Kotak Bank, Union Bank of India and State Bank of India.
Wockhardt which had a substantially rally on Monday continued to rally in trade. Among the Nifty stocks that lost ground in trade were Mahindra and Mahindra and Tata Motors.
Among the Nifty stocks that gained in trade were Sun Pharma, Power Grid, Bharat heavy and HCL Tech.
Mid cap stocks also rallied in trade with notable gainers being Crompton Greaves and Voltas.
PSU banks saw some buying interest in trade today ahead of the RBI's Monetary Policy.
Meanwhile, markets were trading higher across Asia ahead of the Fed's Monetary Policy.