BSE Sensex ends marginally higher after touching lifetime highs

Written by fe Bureau | Mumbai | Updated: Mar 10 2014, 23:53pm hrs
BSE Sensex, NSE NiftyNSE's Nifty closed 10.60 points or 0.16% higher at 6,537.25 points. Reuters
Markets ended flat on Monday after the US Labor Department on Friday announced that non-farm jobs increased by 175,000 in February, boosting speculation that US Fed would continue with tapering of the quantitative easing.

The BSE benchmark Sensex ended 15.04 points or 0.07% higher at 21,934.83 points after touching lifetime intra-day high of 22,023.98, while the NSE's Nifty closed 10.60 points or 0.16% higher at 6,537.25 points. The 50-share Nifty also touched intra-day high 6,562.20 points.

Experts feel cyclicals are likely to outperform markets, going ahead. "Several stocks in the banking, PSU energy, industrial, infrastructure and power sectors theoretically offer excellent reward-risk balance," said Kotak Institutional Equities in a recent note.

Among sectoral indices, the BSE Capital Goods (2.77%), BSE Realty (2.47%) and BSE Bankex (1.91%) were the major gainers. Among individual stocks, Maruti (3.74%), Mahindra & Mahindra (3.42%) and Larsen & Tourbo (3.33%) were the major gainers.

Meanwhile, most Asian indices ended lower. The Nikkei (-1.01%), Hang Seng (-1.75%), Kospi (-1.03%), Straits Times (-0.31%) and Shanghai Composite (-2.86%) ended in the red.

Back home, markets are eyeing the industrial output data (IIP) for further cues. The IIP numbers for January would be out on Wednesday.