New Delhi: Benchmark indices Sensex and Nifty were trading in the positive territory in early trade on Wednesday, after eight days of decline, on value-buying at lower levels ahead of the RBI's interest rate decision later in the day.
Buying in blue-chip Reliance Industries also added to markets' optimism.
The 30-share BSE Sensex climbed 142.63 points to 80,410.25 in early trade. The 50-share NSE Nifty went up by 50.75 points to 24,661.85.
From the Sensex firms, Sun Pharma, Trent, Tech Mahindra, Mahindra & Mahindra, Tata Motors and Reliance Industries were among the major gainers.
However, Bajaj Finance, Eternal, Bajaj Finserv and Bharti Airtel were among the laggards.
In Asian markets, South Korea's Kospi traded in positive territory, while Japan's Nikkei 225 index quoted lower.
US markets ended higher on Tuesday.
"The focus of the market today will be on the monetary policy, particularly the language and message of the policy and comments from the RBI Governor," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,327.09 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought worth Rs 5,761.63 crore, according to exchange data.
Global oil benchmark Brent crude dropped 1.40 percent to USD 67.02 a barrel.
On Tuesday, the Sensex declined 97.32 points or 0.12 percent to settle at 80,267.62, and the Nifty fell by 23.80 points or 0.10 percent to 24,611.10.
In the last eight trading days, the BSE benchmark has tanked 2,746.34 points or 3.30 percent.
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