BSE Sensex ends flat ahead of IIP data, Tata Motors shares in top gainers list

Written by fe Bureau | Mumbai | Updated: Feb 11 2014, 23:07pm hrs
BSE SensexThe BSE Sensex ended 29.10 points higher at 20,363.37 points, while the NSE?s Nifty ended 9.25 points higher. Reuters
Markets ended flat on Tuesday ahead of the industrial output data, which would be out on Wednesday. The BSE barometer, the BSE Sensex ended 29.10 points higher at 20,363.37 points, while the NSE's Nifty ended 9.25 points higher at 6,062.70 points.

Experts expect markets to trade within a narrow range. Nifty may trade within a range of 6000 6150 in near term. Selling pressure may increase, if Nifty breaks 6000 and close below support level, Standard Chartered analysts said in a research note. The trend in investment by foreign institutional investors (FIIs) and the data on industrial production for December 2013 which will be out on Wednesday will dictate the near-term movement, the note added.

Among sectoral indices, BSE IT (0.99%), BSE Consumer Durables (0.58%) and BSE Auto (0.77%) were the major gainers. Among individual stocks, Tata Motors (2.83%), Tata Steel (2%) and Oil & Natural Gas Corp (ONGC) (1.40%) were the major gainers. Shares of Tata Motors gained after the automaker reported 195% y-o-y rise in its net profit to Rs 4,804.80 crore in Q3.

Shares of Bharat Forge touched 52-week high of Rs 367 on Tuesday as the auto ancilliary player informed the exchanges post market hours on Monday that it plans to merge its subsidiaries Kalyani ALSTOM Power and ALSTOM Bharat Forge Power.

Sugar stocks gained ahead of Cabinet Committee Economic Affairs' (CCEA) meeting to discuss the quantum of export subsidy for the sugar sector. Shares of Balrampur Chini (3.57%), Shree Renuka Sugars (4.31%) and Bajaj Hindusthan (6.34%) made smart gains in intra-day trade.

Among key Asian indices, the Hang Seng (1.78%), Kospi (0.46%), Straits Times (0.39%) and Shanghai Composite (0.84%) were the major gainers. Among European indices, FTSE 100 (0.89%), DAX (1.28%) and CAC 40 (0.78%) were the major gainers.