Benchmark indices opened the day higher even as global cues were quiet as markets awaited the outcome of the US Fed meet later during the week.

Most Asian markets were trading with a negative bias and Indian markets were higher after a solid IIP number that was reported on Friday.

Indices

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Oil and gas stocks were seeing good traction in trade with BPCL and Gail among the early gainers. Tata Motors was up after reports that the company may see a growth of 10-15 per cent in commercial vehicle sales.

JK Tyre was down almost 2 per cent after reports of an acquisition of Kesoram's Tyre unit. Kesoram shares on the other hand jumped after the reported sale to J K Tyre.

L&T Finance Holdings was up 4 per cent after reports that Bain Capital was set to announce the acquisition of a stake in the company.

Mid cap stocks were seeing good buying support in trade with stocks like Concor and Reliance Capital among the gainers.

Meanwhile, markets across Asia were trading mostly flat with a slight negative bias. The Shanghai Composite was once again seeing sharp losses, while the Japanese Nikkei was also down in trade.

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