Investors are hopeful of the two -day meet of the Federal Reserve which will conclude later today, will have an announcment on Monetary Easing considering slowing jobs data, and sagging US economic data.

On Tuesday, markets ended on positive note amid pick up in buying in some stocks and firm European cues.

The Sensex was trading at 16,904 points, higher by 44 points and the Nifty was seen trading at 5,118 points, higher by 14 points at 9.45 am IST.

On the sectoral front on BSE, all the sectors were trading positively, except Realty, IT and TECk.

The gainers in morning trade were Jindal Steel, Tata Motors, Sesa Goa and HCL Technologies.

Stocks that failed to lure investors in early trade were Ambuja Cements, ACC, Infosys and Coal India.