Benchmark indices were trading marginally higher, ahead of key central bank decisions, including the Bank of Japan and the US Federal Reserve.
Most Asian markets were marginally higher ahead of the Bank of Japan meeting.
The Sensex was trading with gains of 38 points, while the Nifty was up 12 points in trade.
Leading the set of gainers in trade from the Nifty were stocks like Infratel, Adani Ports and Yes Bank.
Stocks that lost ground from the Nifty were Mahindra and Mahindra, Ultratech Cement and Eicher Motors.
Shares in Jubilant Foodworks, which lost heavy ground on Tuesday after the exit of its CEO, managed to recover and was trading with gains of one per cent.
Banking stocks were subdued with SBI, Axis Bank and ICICI Bank, either trading flat or marginally negative.
Shares in TeamLease Services was higher after the company acquired Nichepro Technologies for enterprise value of Rs 29.5 crore.
Meanwhile, the rupee opened at 66.98 to the dollar and may trade in a tight range, ahead of the US Fed decision. Gold was marginally higher, after the dollar gained against a basket of currencies.