At around 09.44 am, Sensex was trading at 58,373.53 higher by 32.54 points or 0.06%. The index has touched an intraday high and low of 58,439.07 and 58,199.49 respectively.
Nifty 50 traded at 17,418.20 up by 3.15 points or 0.02%. The index has clocked the day's high and low of 17,454 and 17,375.05 respectively.
RIL stock skyrocketed nearly 2% after the company decided to implement a Scheme of Arrangement (Scheme) to transfer Gasification Undertaking into a Wholly-Owned Subsidiary (WOS).
Stocks like Kotak Bank, Infosys and Tech Mahindra climbed between 0.6-0.9%. M&M, Sun Pharma, Power Grid, TCS and Bharti Airtel surged marginally.
Bears on Sensex were - ICICI Bank, NTPC and IndusInd Bank plunging more than 1% each. HUL, Asian Paint, Bajaj Finserv, ITC, HDFC, L&T, Titan, Bajaj Auto and SBI dived between 0.5-1%.
In terms of sectoral indices, on BSE, the Bankex index shed over 170 points. IT index advanced nearly 135 points.
Asian stocks were mixed with South Korea's KOSPI and China's Shanghai Composite in the red. Japan's Nikkei 225 outperformed. A strong rebound in Japanese stocks as metals see renewed buying interest with Chinese iron ore futures rebounding strongly. Chinese data is making foreign investors bullish as year-end commodities see buying interest.
On an expected line, the Bank of Korea hiked the policy repo rate by 25 basis points to 1%. Meanwhile, in the minutes of the meeting, the Fed signalled about being open to speed up the pace of asset tapering.
Overnight, on Wall Street, US markets closed steady as Dow Jones ends flat from being down 230 points intraday while Nasdaq sees a strong rebound as technology stocks saw buying. Russell 2000 which tracks the midcaps also ended in the green. Bond yields close near 1.64% while the US$ index sees further strength to close near 96.65.