The Sensex and the Nifty opened the day higher led by gains in select IT stocks. The Sensex was up 15 points in early trade while the Nifty was up 13 points in trade. Leading the set of gainers from the Nifty were stocks like Coal India, Hindalco, ITC, HDFC Bank and HDFC.
Banking stocks were also subdued in trade. However, PSU Banking stocks were in the limelight ahead of a meeting of banking chiefs for a banking summit with Prime Minister Narendra Modi, Finance Minister Arun Jaitley and RBI Governor Raghuram Rajan.
Stocks like Syndicate Bank, Punjab National Bank and State Bank of India were among the winners in trade.
Dealers say markets may remain subdued for the remainder of the trading day ahead of some activity into the new year.