Benchmark indices as well as broader markets continued to consolidate in morning, with the Nifty hovering around 8800 level as investors awaited SBI and Bank of Baroda's quarterly earnings.
The 30-share BSE Sensex was up 27.75 points at 28357.45 and the 50-share NSE Nifty gained 16.75 points at 8795.15. About 1344 shares advanced against 1012 declining shares on the BSE.
Krishna Kumar Karwa of Emkay Global Financial Services says the results season has been good so far, and the markets were currently taking a breather.
He feels it appeared that the worst effects of last November's note ban were over and there was trend of savings being converted into financial savings.
Country's largest lender State Bank of India shares gained nearly 2 percent as the bank is expected to report a whopping 124 percent growth in profit at Rs 2,496 crore YoY.
Bank of Baroda is likely turn profitable in Q3, with net income at Rs 620 crore against loss of Rs 3,342 crore in year-ago quarter. The stock rallied nearly 3 percent.
Asian markets climbed higher, following a boost in US equities on the back of President Donald Trump saying he would soon announce a "phenomenal" tax plan.
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