The Sensex and the Nifty opened the day higher following the Railway Budget, which has been largely described as pragmatic.
However, analysts now eye the Economic Survey to be presented later today for cues before the Union Budget later tomorrow.
Bank of Baroda was trading higher by 1.5 per cent, while Punjab national bank was higher by 2 per cent. Other notable gainers in trade were Bank of India and ICICI Bank from the banking space.
HDFC continued to rally once again in trade and the stock hit a 52-week low and was up another one per cent in eraly trade. Jindal Steel was clearly the top winner with a huge gain of 5 per cent, followed by Tata Power.
Among the Nifty stocks that were soft included names like DLF, IndusInd Bank and ITC. Railway stocks saw some recovery in trade with Titagorh Wagons and Kalindee Rail Nirman being among the gainers.
Meanwhile, markets across Asia were having a quiet session in trade with the Hong Kong's Hang Sang and the Strait Times among the early winners.