Investors are cautious ahead of the key announcement, and expect the central bank to ease its key lending rates.
The key Indian indices traded marginally in green during the early morning trade session, as healthy buying was witnessed in oil and gas, automobile and metal stocks.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up by 17.35 points or 0.21 per cent to 8,160.50 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,456.21 points, traded at 26,445.67 points (at 9.25 a.m.) — up 52.91 points or 0.20 per cent from the previous close at 26,392.76 points.
The Sensex has touched a high of 26,469.93 points and a low of 26,418.05 points during the intra-day trade so far.
The BSE market breadth was tilted in favour of the bulls — with 931 advances and 326 declines.
On Tuesday, the equity markets closed on a flat note as profit booking and caution ahead of key global events capped gains.
The barometer index was up 43.66 points or 0.17 per cent, while the NSE Nifty rose by 14.40 points or 0.18 per cent.