Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
Markets across the globe are rallying on hopes that the US Federal Reserve won't lift interest rates until 2016.
Sectors such as Auto, Banks, Capital Goods, FMCG, Metal, Oil & Gas and Power are trading marginally lower.
Sensex rises, Nifty ends at record high; RIL shares rally.
BSE Midcap index outperformed the benchmark indices to end with 0.4% gains.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
Markets will remain closed on Thursday, 12 November 2015 on account of Diwali Balipratipada.
Movement of rupee and crude oil prices will also dictate the trend
