Benchmark indices opened the day higher ahead of the Monetary Policy due later today. The Sensex was trading with gains of 48 points, while the Nifty was higher by 22 points.

Leading the set of gainers in early trade were Dr Reddy's, Vedanta, Tata Steel and Wipro. Banking stocks saw some early losses ahead of the RBI's Monetary Policy, with Kotak Bank and Bank of Baroda, PNB, Canara Bank and Yes Bank.

IT stocks saw some buying interest on persistent weakness in stocks like Wipro and HCL Tech among the gainers.

Meanwhile, markets across Asia were trading with gains, despite lower closing across the US markets. Among the gainers were the Jakarta Composite, Hang Sang and the Seoul Composite, which all saw gains of more than one per cent.

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